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Here's how much apartment you can rent in San Antonio on the median income

Don't expect to live large on the median income in San Antonio.

Photo courtesy of Trinity Residences

Living in a big city comes at a cost: smaller living spaces. That couldn't be more true in San Antonio, where the average-size apartment is out of reach for those earning the median income.

That's according to a new study from RentCafe that looked at how much space residents can afford to rent on the local median income, without spending more than 30 percent of their earnings and becoming cost-burdened.

A San Antonio resident earning the median income of $3,009 a month can afford only 756 square feet of apartment, which comes to $903 a month. The average apartment in San Antonio, though, is 853 square feet and goes for $1,018 a month.

In Texas' other major cities, the amount of space you can afford on the median income varies, but all are smaller than the average apartment.

Austin is the most expensive spot in the state. The median income there ($3,964 a month) covers only 751 square feet and costs $1,189 a month, while the average apartment is 864 square feet and costs a steep $1,369 a month. Dallas offers the least amount of space of all the Texas cities mentioned in the study. Its median income ($3,214 a month) covers only 679 square feet of apartment for $964 a month, however, the average apartment is 844 square feet and costs $1,199 a month.

Fort Worth residents earning the median income ($3,279 a month) can afford the most space: up to 788 square feet for $984. The average apartment there is 871 square feet and costs $1,088 a month. In Houston, the median income of $3,143 a month gets you 757 square feet for $943, while the average apartment is 879 square feet and costs $1,094 a month.

Interestingly, in only 14 large U.S. cities can someone earning the median income afford a bigger-than-average apartment. Among them are Plano, where you can live large in 1,137 square feet of apartment (versus the average 935) for the median income, and Irving, where you can get 912 square feet of living space (compared to an average of 852).

RENT'S DUE

San Antonio rent prices increased 7 percent from 2022, report finds

Photo by Henry Becerra on Unsplash

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Apartment rent keeps going up in Texas, and in San Antonio the increase is seven percent more than last year, making it more difficult to afford living in the city. That’s according to a new national rent report from online rental marketplace Zumper.

Despite rent increases showing small improvements month-over-month, overall prices are still on the high side from the previous year. For example, the average rent for a two-bedroom apartment in San Antonio is $1,430 now, in March of 2023, which is a 1.4 percent decrease from the previous month, but a 4.4 percent increase from 2022. The average rent for a one-bedroom is $1,160, which is a mere .90 percent increase month-over-month, but a whopping 7.4 percent increase from last year.

The report looked at rental data from more than one million active listings in the top 100 cities in the United States to determine the rankings. Zumper ranked San Antonio the No. 66 most expensive rental market across the nation in February of 2023, up three places from the last report.

The report attributes these recent rental increase trends to the nation's rising inflation rate and unpredictable economy. Though unemployment is low (less than 3.4 percent), potential homebuyers are being sidelined with increasing interest rates. This is causing more competition among renters all over the country.

“Many markets continue to either normalize or correct following the steep increases in rent seen in 2021 [and 2022] in the zero interest rate [and] QE environment we went through,” said Zumper CEO Anthemos Georgiades in the report. “With interest rates expected to rise further in 2023, we anticipate continued deceleration in rent rises as new household formation freezes or is at least postponed.”

Much higher up the list from San Antonio is its Central Texas neighbor Austin, coming in as the No. 25 most expensive rental market, which is a two-place increase from a previous report. Average rent for a one-bedroom apartment stayed relatively flat over the last month, at $1,670, yet is still 7.7 percent higher than it was last year. Two-bedroom apartments saw a higher year-over-year increase at 8.4 percent, with the average rent price at $2,070.

Several cities in the DFW metro area also made the list, as well as Houston (No. 51) and El Paso (No. 95). Most notably, Irving (No. 34) is experiencing a nearly 15 percent year-over-year rent increase for both one- and two-bedroom apartments.

The nine total Texas cities that made the list include:

No. 25 – Austin
No. 34 – Irving
No. 36 – Dallas
No. 40 – Plano
No. 51 – Houston
No. 55 – Fort Worth
No. 66 – San Antonio
No. 67 – Arlington
No. 95 – El Paso

The full data from Zumper’s National Rent Report can be found at zumper.com.

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close quarters

Here's how much apartment you can rent in San Antonio on the median income

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San Antonio rent prices increased 7 percent from 2022, report finds

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