San Antonio homeowners unable to sell their properties are increasingly becoming “accidental landlords,” according to Zillow. The real estate marketplace’s newest analysis says that 3.9 percent of its local for-sale listings recently converted to rentals, making the Alamo City the fourth-worst U.S. city for the market trend.

Only Denver (4.9 percent), Houston (4.2 percent), and Austin (4.1 percent) rank higher. Seven of the top 10 metros are in Texas or Florida.

Zillow senior economist Kara Ng says today's dynamic is driven by choice rather than panic. Homeowners aren't being forced to sell; they're simply unwilling to accept what the market will actually pay.

"As the market continues to rebalance, sellers are facing a different reality than they did a few years ago," explains Ng, in a release. "Bargaining power is tilting toward buyers, and homes are taking longer to sell, making renting out a property one way to buy time rather than compete aggressively on price. After all, today's sellers are rarely forced to sell, and it appears they are often unwilling to budge off of what their heart says their home is worth."

Nationally, the trend is nearing a record high. 2.3 percent of all Zillow rental listings were recently for-sale properties, second only to November 2022, when mortgage rates had doubled in a single year, and sellers were scrambling. That spike was shock-driven, but now stubbornness is likely fueling the shift.

Single-family homes make up the largest share of accidental landlord properties, but condos are seeing the fastest rise. Metros with the hottest buyer competition, including Boston, New York City, and Providence, Rhode Island, have the lowest accidental landlord rates.

San Antonians trying to sell their houses are also facing another discouraging trend. Zillow’s rival marketplace Redfin rates the Alamo City as the No. 2 metro in the nation where buyers are getting cold feet and ghosting before closing real estate deals.

For both local buyers and sellers, Goldilocks thinking is increasingly the norm. Sellers, especially those who bought during the COVID-19 boom, are holding their asking price firm to avoid taking a loss. Buyers, for their part, are refusing to compromise on concessions and repairs.

Meanwhile, San Antonio’s rental market keeps getting larger. In 2025, rental listings website Point2Homes placed the 210 among the top 10 U.S. metros building the most new homes for rent. And a surge in local rental incentives is making it attractive for renters to hold off on ownership.