Apartment operators in San Antonio are trying to hold onto renters and are implementing deep rent cuts to do so. Prices were slashed 6% in the year-ending March, marking the deepest rent cut the market has seen since RealPage Market Analytics began tracking the market. In comparison, the U.S. overall saw rents ease 0.7% in the past year. The annual price cuts in San Antonio were not quite as deep as the decline in Austin (-7.5%) but were notably more aggressive than the cuts in Dallas (-3.4%), Houston (-3.3%) and Fort Worth (-2.8%). Record apartment supply volumes have weighed down pricing capacity across the Sun Belt in recent years. San Antonio saw over 6,000 new units deliver in the year-ending 1st quarter. While that was down from deliveries near 13,000 units in the year-ending 1st quarter 2025, it was still elevated in comparison to long-term norms for the market.
