San Antonio’s wage growth outpaces the state average, but the city remains poor

Wage growth in the San Antonio area hit 5.4% in April, higher than both the national average and that of any other metro in the state, according to new data from the Federal Reserve Bank of Dallas.

While that number and other key economic indicators for the Alamo City remain strong, residents here are still considerably poorer than people living in other Texas cities, not to mention the national average.

Workers in the San Antonio metro brought home $27.90 an hour on average for April. That’s $3.27 less than the average hourly wage in Texas and far less than the national average of $33.22 an hour, the Federal Reserve Bank of Dallas reported.

San Antonio’s April unemployment rate was 3.4% — just 0.2% higher than the national average. It was also 0.4% less than the state average, which spiked to 4% last month.

The latest economic indicators indicate that while San Antonio’s economy shows strong growth. However, they suggest the area — which has long suffered from high rates of generational poverty — is playing a game of catchup to other major Texas cities rather than pulling ahead.

The report comes as San Antonio continues to rank among the most affordable cities in the country. Meanwhile, longtime residents are being priced out of the market as monied outsiders from coastal hubs continue to buy up properties.

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This article appears in May 31 – Jun 13, 2023.