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Sunday, November 24, 2024

San Antonio rents rising, but wages aren't keeping up, online apartment company says

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Renting in San Antonio has gotten progressively more expensive since 2008, but wages in the city haven't kept up, an online rental company said in a report issued last fall.

Median rents in San Antonio went up about 16.5 percent, from $860 to $1,002, between 2008 and 2018, according to Census data compiled by Apartment List in its 2019 Cost Burden Report.

That San Antonio percentage was slightly higher than the report found in greater New York City region and almost the same as in the Los Angeles area, according to the report's national and local data.

San Antonio's median rent increase was less that the 18.7 percent experienced over the same period in Dallas and more than the 16.1 percent increase in Houston.

Meanwhile, wages have stagnated while rents have increased in San Antonio, with renters' median incomes growing from $35,718 to $36,959 over the decade, a 3.5-percent increase adjusted for inflation, according to the report.

About half of all renter households in the U.S. struggle with affordability, according to Apartment List's report.

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