San Antonio housing market called 'hidden gem' by realtor group as prices continue to rise

The praise from the trade group comes as the average home price here reaches 6.5 times the median household income.

click to enlarge The praise from the National Association of Realtors comes as many San Antonians feel priced out. - PEXELS / RODNAE PRODUCTIONS
Pexels / RODNAE Productions
The praise from the National Association of Realtors comes as many San Antonians feel priced out.
For a second consecutive year, San Antonio was named one of the top "hidden gem" U.S. real estate markets by the National Association of Realtors, Business Insider reports.

The group "handpicked" the Alamo City as the No. 4 best undiscovered markets, the news site reports.

Gilbert Gonzalez, the CEO of the San Antonio Board of Realtors, told Business Insider the city's relatively affordable housing market and small-town feel are the primary reasons people choose to move here.

Alamo City residents may not be terribly happy about the additional publicity, however.

As previously reported by the Current, the median home price in San Antonio skyrocketed to $348,800 in May, according to SABOR's own data. And although the city's median sales price is less than the national average of $450,600, it's becoming increasingly difficult for longtime residents of to afford a home.

According to 2020 U.S. Census Data, the median household income in San Antonio is only $53,420, meaning the average home price is 6.5 times the median household income. A healthy home-price-to-income ratio is about 2.6,  according to ColoradoBiz Magazine.

In Austin, a home costs about 8 times the median household income, giving it the 12th-highest ratio in the nation, according to constructioncoverage.com.

San Antonio was also named a hidden gem in 2021 by the National Association of Realtors, which then called the market "undervalued."

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