Housing Report

San Antonio's median home price surpasses $325,000 for first time ever

Current market conditions are strong.

Photo by Zak Gudakov

Home prices in the San Antonio area continued their month-over-month climb in March, according to the latest data from the San Antonio Board of Realtors, which calls the current market conditions "strong."

The report shows that the San Antonio metro area's median price grew to $326,500 last month, an increase of 22 percent from a year ago and a 4 percent jump from February 2022, when the median price hit a record $314,000. This is the highest median price on record for the local market.

Meanwhile, the average home price for the market landed just shy of $375,000 in March 2022 — coming in at $374,168 and representing a 19 percent jump from the previous year.

Prices are up, but so are sales, with the area seeing a 1 percent increase in total closed sales in March 2022, with 3,522 homes sold.

“As we close the first quarter of the year, we are seeing a gradual increase in new listings, active listings, and pending sales for the month,” says Tracie Hasslocher, SABOR's 2022 chairman of the board. “Homes were on the market for 34 days, compared to 45 last year. The average and median prices of homes are also seeing an increase from what we saw this time last year.”

The San Antonio market continues to heat up, but it still remains a relatively affordable option for Texas buyers. SABOR notes that the median home price in Texas last month was $339,900, and the state's average price per square foot was $187, compared to $183 in the San Antonio area, meaning Alamo City still delivers a good bang for your buck.

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bang for your buck

San Antonio ZIP code is 4th most affordable place for renters in U.S.

Photo by Florian Schmid on Unsplash

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Trying to afford buying a home in San Antonio is difficult enough with current mortgage rates, and doubly so if you're already paying high rent on an apartment or a house. But there are six San Antonio ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.

To find the most affordable ZIP codes for renters in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs in those areas using the Zillow Observed Rent Index. ZIP codes where the average annual rental constituted the lowest percentage of median household income were considered the "most affordable."

San Antonio's 78248 ZIP code specifically stood out as the No. 4 most affordable in the country, and the No. 1 most affordable in Texas. This area encompasses the north San Antonio neighborhoods of Inwood, Forests at Inwood, Oakwood, The Park at Deerfield, Canyon Creek Bluffs, Canyon Creek Village, Blanco Village, Deerfield, Cadillac Drive, and Churchill Estates.

According to the study's findings, the average monthly cost of a rental in 78248 comes out to $1,259.17, and the median annual income of a household in the area is $122,986. Analysts then calculated that the annual rent of a home in this ZIP code only takes up 12.29 percent of a household's median income, which is the fourth-lowest in the nation.

CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.

Elsewhere in Texas, two Houston-area ZIP codes – 77401 and 77094 – ranked No. 9 and No. 12 nationally, while Allen's 75013 ZIP code fell two spots behind to claim the No. 14 spot.

The most affordable San Antonio-area ZIP codes for renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in San Antonio, Austin, and Houston.

Following 78248 (which took the No. 1 spot citywide) is 78261 (No. 2), which spans east of Highway 281, across Smithson Valley Road. Rent costs in this ZIP code averaged out to $1,698 per month, the report found.

Landing in the No. 3 spot is 78258, which includes Rogers Ranch, The Vineyard, Stone Oak, Summit, Hidden Canyon, and Big Springs neighborhoods. The report said average rent in the area comes out to $1,507 per month, which takes up 17.54 percent of a household's median annual income.

The remaining top two most affordable ZIP codes for San Antonio renters are located in 78259 (Encino Park, Encino Ranch, Cavalo Creek Estates, Northwood Hills, Summit at Bulverde Creek, Roseheart, Redland Woods) and 78260 in Timberwood Park, which is about 25 miles north of downtown San Antonio.

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