Housing Report

San Antonio housing market heats up with double-digit growth in prices and sales

San Antonio's peak selling season may come early.

Once again, home sales — and prices — are up in San Antonio. The San Antonio Board of Realtors' March 2021 report shows double-digit year-over-year growth and points to high demand in the local market.

March 2021 home sales jumped 16 percent over the previous year, to 3,029 homes sold, SABOR says. At the same time, the median home price grew 12 percent year-over-year to $268,500, while the average price climbed an even higher 15 percent to $316,971.

Signaling increased demand, a trend witnessed across Texas right now, homes spent only 45 days on the market last month. A year ago, homes were on the market for 69 days, approximately three-and-half weeks longer.

"As we near summer, we are starting to see a rise in home sales earlier than the peak of summer season," says Cher Miculka, SABOR's 2021 chairman, in a release. "Taking the pulse of the market and seeing the continually high demand, it is clear that homeownership in Bexar County and its surrounding areas remains a priority for many coming into mid-year."

By Lone Star standards, San Antonio remains relatively affordable, SABOR's report shows. The average Texas home price hit $363,563 last month, up 21.3 percent from March 2020. At the same time, the median Texas home price grew to $285,000.

At the county level, only Harris County (home to Houston) saw a bigger increase in sales than Bexar County, up 19.8 percent compared to Bexar's 13.9 percent jump.

home-for-sale reports

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.

rent rent prices affordable housing