NO SPACE TO WASTE

This is how big San Antonio apartments get for $1,500 a month

San Antonio renters can find apartments that span 1,010 square feet for $1,500 a month.

We all know what renters dream about when they’re not thinking about the logistics of owning a home: low rent prices with the perfect amount of space. In a city like San Antonio, that’s getting harder and harder to come by.

In fact, for renters who have a budget of $1,500 a month, the average apartment size they can get in San Antonio spans about 1,010 square feet. That’s according to a new study by apartment rental marketplace RentCafe. RentCafe’s study looked at data from their sister site, Yardi Matrix, to determine the average size and price per square foot for a $1,500 monthly budget in 200 of the largest American cities.

Alamo City is No. 9 among the Texas cities with the most space for the same budget. This may not sound like a great rating, but San Antonio is significantly bigger than the rest of the most spacious top 10 — so there's more to do outside that 1,010-square-foot apartment.

The worst offender, with the smallest space for the price, is Austin. Austin renters have to make do with an average apartment size of 714 square feet, which is a nearly 300-square-foot difference in comparison to San Antonio. In Killeen, which is only 70 miles north of Austin, renters can find an average apartment size of 1,095 square feet. Austin is at the bottom of the list in the overall analysis of Texas cities.

If you head to the Houston area, Pasadena residents get an average of 1,180 square feet of space for $1,500 a month, whereas renters searching for apartments in Houston proper will only get about 997 square feet.

Renters looking to live in Fort Worth or Dallas will notice a nearly 100 square foot difference between apartments, at 909 and 805 square feet, respectively. Residents can get the most bang for their buck in the suburbs with an average apartment size well into the 900-square-foot range. Mesquite residents, by far, get the most space, at 999 square feet, whereas renters in Garland and Arlington get an average of 937 and 928 square feet for the same budget.

Elsewhere in Texas, apartments in the Rio Grande Valley have the best price per square foot in the state. McAllen residents get the most space out of any other Texas city with an average apartment size of 1,471 square feet. Renters in Brownsville, which is 60 miles east on the border, can get a similarly sized apartment that’s 1,307 square feet for the same $1,500 a month budget.

Here’s how much space you can rent for $1,500 a month in other Texas cities:

Amarillo – 1,318 square feet
El Paso – 1,222 square feet
Lubbock – 1,218 square feet
Corpus Christi – 1,126 square feet
Grand Prairie – 873 square feet
Denton – 868 square feet
Irving – 848 square feet
McKinney – 809 square feet
Plano – 766 square feet
Frisco – 740 square feet

The full report can be found on rentcafe.com.

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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.

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