Study: San Antonio needs more than 50K new apartments by 2030 to keep pace with population

Jun 19, 2017, 11:21am CDT Updated Jun 28, 2017, 9:37am CDT

By Ryan Salchert

The San Antonio area will need 53,890 new apartments by 2030 to keep up with local demand, a new study concludes. The study, commissioned by the National Multifamily Housing Council and the National Apartment Association, cited an aging population, international immigration and declining home purchases as driving the increase in demand.

The estimated 28 percent increase in apartment availability ranks San Antonio 11th among the top 50 metro areas in terms of percent increase in demand by 2030. Currently, San Antonio has an estimated 195,198 apartments with residents spanning the age and income spectrum. The study found that, nationally, 4.6 million new apartments will be needed by 2030 across all price points.

Other metro areas where significant demand for new apartments is expected, according to the study, include Raleigh, North Carolina, 69.1 percent; Orlando, Florida, 56.7 percent; and Austin, 48.7 percent. Dallas-Fort Worth and Houston were also named in the report, with those cities expected to need an additional 266,296 and 214,176 new units, respectively.

The 39 million Americans living in apartments contribute $1.3 trillion to the national economy, National Multifamily Housing Council Chair Bob DeWitt said in a release. San Antonio apartment developers, owners, managers and their residents contribute $4.7 billion to the local economy annually.

Read the article here: https://www.bizjournals.com/sanantonio/news/2017/06/19/study-says-san-an...