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Rentals in the Alamo City remain on the market for 44 days on average, with only about seven people competing for each property, according to the new report.
Rentals in the Alamo City remain on the market for 44 days on average, with only about seven people competing for each property, according to the new report. What’s more, only 92% of apartments in San Antonio are occupied, making the city among the easiest to find a rental.
RentCafe analyzed those metrics, along with the share of renters renewing their leases and the share of recently built apartment complexes, across 137 U.S. rental markets to compile its annual rental report.
San Antonio ranked as a “Less Competitive” market. Perhaps surprisingly, the only Texas city with a “highly competitive market” is El Paso, which was ranked as the report's No. 11 Hottest Small Rental Market.
Overall, Florida markets were the most competitive. Miami-Dade County, where 97% of apartments are occupied, came in as the hottest U.S. rental market.
“Transplants from the North are moving to the Sunshine State in search of jobs and better lifestyles, and this is showing in the local rental market’s competitiveness,” the report said. “To that extent, six out of the nation's top 20 hottest renting hubs are located in Florida, including four that dominate the top half of the ranking.”
Although Florida remains a sought-after place to live, finding a rental property is generally easier this year compared with 2022, a phenomenon RentCafe said is due to a slew of new apartment construction and general “economic uncertainties.”
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