Much like San Antonio’s single-family home market, the city’s supply of multifamily housing eased up in 2025 after a rush to build during the pandemic.
In 2021, demand for apartments soared, and builders took advantage of low interest rates and liquidity to feed that demand. But four years later, supply is outpacing demand, leading to a tapering down of new construction to help stabilize rent prices and occupancy.
In 2025, the market added 6,877 new apartment units to the area, down 36% compared with 2024, according to data firm Austin Investor Interests, a data firm focused on the Austin and San Antonio multifamily housing markets. It’s expected to drop again by as much as 40% to 50% in 2026…