While San Antonio’s multifamily market continues to face high vacancy rates, one segment is bouncing back.
Luxury units make up nearly half of the local market’s inventory at 47%, and as of the second quarter, these four- and five-star apartments had vacancy rates below 12%, according to a recent CoStar report.
In the early 2020s, both San Antonio and Austin experienced an influx of new apartment developments that outpaced demand and jacked up vacancies. Developers expanded the market by roughly 25% over five years…