A buyer's market?

San Antonio home prices have actually fallen, according to this surprising report

Good news for buyers: The median listing price in San Antonio has fallen since last year.

Photo Courtesy of Keller Williams San Antonio

Is the San Antonio market cooling down? A new report from Trulia ranks the Alamo City No. 1 among 10 U.S. markets where list prices have stalled — or even fallen — over the past year.

The real estate site used information from "Trulia Data Central" to identify "cool markets and give some context around the sluggish price performance," according to a release. In total, four Texas metros appear on the list: two with price decreases — San Antonio and Austin — and two with prices that stalled — Houston and Dallas.

The San Antonio metro area has seen a price decrease of more than 5 percent year-over-year. Currently, says Trulia, the median listing price is $269,499, down from $284,900 in March 2017.

But, before we dare call it a cold market, Trulia's managing editor David Weidner offers a little insight into the stalled pricing and reminds that home values are still on the rise.

"First, Texas home values continue to rise. That means if you have a home in Texas, its value is appreciating," he tells CultureMap. "Second, Texas metros are building at some of the fastest rates in the country. The new housing is priced roughly at levels of a year ago, suggesting that new supply is keeping up with demand."

According to Trulia, the median home value in the San Antonio area is $183,602, up almost 7 percent from March 2017.

The Austin-Round Rock metro area ranks second on the list, with a median listing price is $336,995, down 3.4 percent year-over-year. The median home value, however, is up 5.21 percent to $293,945.

Houston (No. 7) and Dallas (No. 8) appear farther down the list, with relatively flat home prices but increasing home values.

In the Houston metro area, the median listing price of $299,520 has increased only $1,216, but home values are up 5.42 percent to $196,155. The median listing price in Dallas is now $356,999, up $1,671 from last year. Home values there are appreciating like crazy, up 15.14 percent to $247,130.

home-for-sale trulia 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