oh the places you'll go

San Antonio surprises as top 5 housing market for new grads

San Antonio boasts the most affordable rent prices out of all of the top five U.S. rental markets, Zillow found.

College grads living in San Antonio already have a lot on their minds this summer with job searching and career building, but at least they won't have to worry as much about where to put down roots: San Antonio is the No. 4 best U.S. market for new graduates in 2024, according to a new report by Zillow.

Zillow compared the rent affordability, job market, and demographics across the 100 largest U.S. metros to determine the best housing markets for recent graduates.

San Antonio's real estate market has dramatically improved as a prospect for new graduates since 2023, when it previously ranked No. 60 nationwide in a separate report by ApartmentAdvisor.

The remaining top housing markets are located in Phoenix, Arizona (No. 1); Albuquerque, New Mexico (No. 2); Colorado Springs, Colorado (No. 3); and Portland, Oregon (No. 5).

Based on the study's data, new college grads in San Antonio make an average salary of $61,643 a year. The typical rent in the city is $1,477 per month, which Zillow points out is the most affordable monthly rent price out of the top five markets.

Moreover, the report found San Antonio rent prices add up to 28.8 percent of a graduate's annual income. This allows residents the flexibility to explore all of what the city has to offer, or to put money away for a future down payment, says Zillow economic research data scientist Anushna Prakash.

"Zillow's best markets for new grads are great places to kickstart a career and take the first steps of adulthood," said Prakash. "For renters who don't mind a housemate or two, renting a room can help save some extra cash and might even introduce lifelong friends."

Concessions – like a free month of rent or free parking – are another big factor that boosted San Antonio's ranking, as nearly half (48 percent) of all rental listings in the city offer concessions.

San Antonio was the highest-ranked Texas city in the nationwide housing market analysis, with Dallas (No. 6) and Austin (No. 10) falling behind.

The top 10 housing markets for new graduates in 2024 are:

No. 1 – Phoenix, Arizona
No. 2 – Albuquerque, New Mexico
No. 3 – Colorado Springs, Colorado
No. 4 – San Antonio, Texas
No. 5 – Portland, Oregon
No. 6 – Dallas, Texas
No. 7 – Raleigh, North Carolina
No. 8 – Denver, Colorado
No. 9 – Spokane, Washington
No. 10 – Austin, Texas

The full report can be found on zillow.com.

real estate housing market san antonio dallas austin zillow reports

hottest headlines of 2024

Booming 'burbs top San Antonio's hottest real estate stories of 2024

City of New Braunfels/Instagram

New Braunfels caught a lot of admiration over the past year.

Editor's note: At the end of 2024, we're looking back at the stories that shaped San Antonio this year. Home isn't just where the heart is; it's what readers click on. And this year, our readers were interested in the best and most attainable places to live, along with extravagant abodes and a hotel acquisition. Here are CultureMap San Antonio's top 10 real estate stories of 2024.

1. 3 San Antonio neighbors make new list of best small cities in America. New Braunfels, Canyon Lake, and Cibolo were among WalletHub's picks for best small cities based on overall livability.

2. San Antonio suburb 5th on booming U.S. cities list with homes under $500,000. Canyon Lake ranked No. 5 out of all 50 cities in the report. This city is full of lakefront properties, parks, country clubs, and other ways to enjoy nature without being too far from a large city.

3. This $4.85 million Boerne ranch with its own lazy river is going wild on social media. A sprawling 72-acre property for sale in Boerne had people going wild on social media. There was also a guest house with a garage, a driving range and multi-hole putting green, and an 18-acre fenced goat pasture.

4. San Antonio is the 5th easiest metro in the U.S. to pay off a mortgage. According to the study, the median principal and interest payment in San Antonio can be estimated at $1,723 per month. Considering a median income of $117,000, mortgage payments represent only 17.7 percent of a homeowner's gross pay.

5. 2 San Antonio-area ZIP codes stand out in new list of hottest U.S. housing markets in 2023. The hot ZIP codes were 78253 and 78130, on the west side of San Antonio and around most of New Braunfels, respectively.

6. Texas chef's $1.65 million Austin home has creative touches everywhere. Texas restaurateur Lou Lambert — the owner behind Austin restaurants Lou's and Lamberts Barbecue — has packed up and settled in Fort Worth, leaving behind a cozy home that used to be a guest cottage.

7. Hyatt Regency San Antonio Riverwalk hotel snagged by California investors for $230 million. The deal gave Sunstone Investment Group control over one of the city's most enviably located properties. The 630-room giant at 123 Losoya St. sits between the River Walk and Alamo Plaza.

8. San Antonio neighbor is the No. 1 best Texas suburb for house renters. In Bulverde, a small town about 22 miles north of San Antonio, Point2Homes found 76.4 percent of renters are residing in single-family homes.

9. Best ways San Antonio homeowners can boost curb appeal this fall. Thumbtack, a home services website, found Americans should budget nearly $3,600 for their autumn outdoor projects – such as gutter cleanings, sprinkler system winterization, tree trimming, lawn fertilizing, and more.

10. San Antonio apartment construction surges to 15th highest in the U.S. When the report was published in August, the San Antonio metro area was expected to complete 9,617 more new apartments by the end of the year.

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