Growth of Renters Prompting More Development
Press Release
by Chelsea Torres | News4SA
San Antonio is vastly becoming one of the best cities for renters across the country. According to RentCafe, the area's zip code 78215, near the Tobin Hill neighborhood, is the fastest growing zip code in the country, for renters.
"San Antonio’s 78215 is the top trending zip code for renters in the nation, tripling its renter population in ten years," says RentCafe.
Developments have been popping up all over the city, with a new trend in build-to-rent (BTR) style homes.
"From students to grad students, to empty nesters, to young professionals," Michael Hoy with Rangewater Real Estate says he see's people look for a variety of housing options.
"Eventually we'll buy a house, obviously it's very similar living, but we'll wait a little while," says Jennifer Corbell, who moved into one of the build to rent neighborhoods on the city's northwest side.
Just ten minutes away, is another built-to-rent community, where Kathryn Segura says, "it's not the best time to buy, hopefully it will get better, but this is a great alternative."
Both moms of two, Corbell and Segura moved to San Antonio in 2021. Due to the housing market, both Corbell and Segura are happy with their rental homes, even if it's just for the meantime.
"I have two small kids and so having a home-style vibe is very important to me," says Segura.
"It's not apartment living, but it's not the responsibilities of a homeowner, I don't have to pay for my maintenance if I have a problem, they come in," Corbell says about her neighborhood, Cottages at Leon Creek, one of the developments by Rangewater Real Estate.
RangeWater Real Estate is currently working on another development on the northeast side of town, off Loop 1604 and O'Connor.
"Housing is an essential need," says Hoy, "and when it's unaffordable to live where you wanna live, these are gonna continue to pop up I think."
Hoy believes people are moving to San Antonio because of their quality of life. He says developments are particularly popping up around the west and northwest side of town because of the businesses and access to the city's hot spots of entertainment.
"A lot of growth but it's nothing that feels claustrophobic," says Corbell, "or anything that feels like a hustle and bustle of like, a big city."