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San Antonio is the 7th largest city in the nation and one of the fastest growing cities in Texas. Its current population is 1.3 million, which represents a 2.8 percent increase from 2008. The population will continue to grow, as experts predict an increase of more than 25 percent by 2020. By 2040, the Texas State Data Center predicts that San Antonio’s population will be approximately 2,512,021. On a regional level, Comal and Kendall Counties are experiencing the fastest annual population growth at 50.3 percent and 48 percent, respectively. San Antonio offers a vast selection of both multifamily and single-family residential housing. According to Apartment MarketData Research, the average rent per square-foot for multifamily housing in San Antonio is $0.82, compared to $0.83 in Texas as a whole. The average multifamily residence occupancy is 93.4 percent. Furthermore, approximately 20 percent of San Antonio homes are leased to renters.
According to the National Association of Realtors (NAR), the median home price in San Antonio was $152,800 in 2009. This is 25 percent below the national average of $200,500 for the same year. Furthermore, the San Antonio Board of REALTORS® (SABOR) reported the median price of homes was down two percent in November 2009 compared to November 2008. SABOR also reported that sales were up 52 percent and the average home price was down six percent from November 2008.
SABOR indicated that the increase in new home sales may be getting a boost from the Homebuyer Tax Credit Bill which was recently expanded and extended into 2010. The bill provides an 8K tax credit for married, first-time home buyers (4K if you are single) and a $6,500 tax credit for current homeowners. There is an 800K cap on the cost of the purchased home to be eligible for the credit.
The Real Estate Center at Texas A&M reported that during 2006 – 2008 the majority of homes sold in San Antonio were in the $120,000 - $139,999 price range. This, according to Builder Magazine, means that homes in San Antonio cost 50K less than similar homes in other markets. The same magazine also named San Antonio the 4th Healthiest Housing Market in the Nation.
Community Composition
The average household size in San Antonio is 2.8 people. The percentage of family households is 69.3 percent, while 5.3 percent of households contain unmarried partners. Of the population aged 25 years and over, 75.1 percent earned a high school degree or higher, 21.6 percent earned a bachelor’s degree or higher and 7.9 percent earned a graduate or professional degree. The median age for residents in San Antonio is 32.5, which is much younger than the national average.
According to the American Community Survey conducted by the U.S. Census Bureau, White Americans comprised 64.3 percent of San Antonio’s population, of which 29.3 percent were non-Hispanic whites. African Americans comprised 6.6 percent, of which 6.3 percent were non-Hispanic blacks. American Indians comprised 0.6 percent, of which 0.3 percent were non-Hispanic. Asian Americans comprised 2.0 percent, of which 1.9 percent were non-Hispanic. Pacific Islander Americans comprised 0.1 percent of the city’s population while individuals from an “other” race comprised 23.9 percent, of which 0.3 percent were non-Hispanic. Individuals from multiple races comprised 2.5 percent of the city’s population, of which 0.9 percent were non-Hispanic.
Home Finding Resources
Once you have decided to purchase a home or rent a property in San Antonio, there are many resources available to assist in the process. SABOR is the largest professional and trade organization in San Antonio representing over 7,000 REALTOR® members. It is one of more than 1,600 local boards as well as 54 state and territory associations of REALTORS® nationwide that form the NAR. SABOR’s Web site offers a free property search and can connect you with any one of its REALTOR® members. For more information on SABOR contact:
San Antonio Board of REALTORS®
9110 West IH-10
San Antonio, Texas 78230-3112
(210) 593-1200
Fax: (210) 593-1251
www.sabor.com
If you are in the market for a new home, a good resource is the Greater San Antonio Builder’s Association (GSABA). GSABA is a trade association that provides the San Antonio community with a showcase of its members’ profiles and products. Of particular interest is the GSABA’s New Home Center. Open to the public, the New Home Center offers a variety of brochures and information on San Antonio area builders, communities and developments. It can also be used as a venue for meeting with your builder to discuss your future home. To help you locate the perfect builder, the GSABA’s Web site offers a “Find a Builder” feature, which allows you to enter specific search criteria including area, price range and specialty features. For more information on the GSABA contact:
Greater San Antonio Builders Association
3625 Paesanos Parkway
San Antonio, TX 78231
(210) 696-3800
Fax: (210) 692-3459
www.sabuilders.com
In 2009, Hanley Wood Market Intelligence reported that San Antonio’s busiest home builders were D.R. Horton, KB Home, Centex Homes, Pulte Homes and Fieldstone Communities. All of these homebuilders are national companies with easily accessible Web sites. The Web sites can help you navigate through specific communities, floor plans and price ranges. Having insight into what each respective builder offers prior to contacting the local office will help streamline the home buying process.
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