New apartments are popping up seemingly overnight across the Lone Star State — except in San Antonio, according to a new study.
RentCafe estimates that only 3,510 new apartments will be built in the San Antonio metro by the end of 2109, signaling a major slowdown in the market.
The Alamo City will see a 41 percent decrease in the number of new apartments built this year versus last year, despite the fact that its population is growing (1.8 percent). Those stats place San Antonio right in the middle of RentCafe's list of 2019's best and worst cities for new apartments.
San Antonio's slump falls in line with the national trend. The 299,442 new apartments expected in the U.S. in 2019 represent an 8.2 percent drop from 2018’s 326,240 new units, which also were weaker numbers than in 2017, when 331,765 new apartments were built.
Elsewhere in Texas, however, construction is still booming. The report estimates 22,196 new apartments will be built in the Dallas-Fort Worth metro area by the end of 2019 — by far the highest number in the country.
At No. 5 on RentCafe’s list is Austin, with 10,783 new units expected by the end of the year. And No. 10 Houston is expected to bring 7,143 new units to the region, with about half rising within the city limits.