Much like groceries, gas and everything else, renting an apartment has gotten more expensive in the Alamo City, according to a recent report from rental agency Dwellsy.
According to the analysis, median rents in the San Antonio-New Braunfels Metro jumped $377 from January to December of last year. That constitutes a 28.9% increase from January's median of $1,304. To a large part, the boost was driven by high-demand single-family homes, which tallied a 26% cost increase.
The report noted that in a “normal year,” average rental prices would only increase by around 3-4%, far lower than this year’s national average of 11%. The COVID-19 pandemic was a key contributor to the price hike, according to researchers.
The Dwellsy's study follows a string of recent reports about San Antonio’s increasingly expensive housing market, including being ranked one of the hottest housing markets of 2022 by Zillow and more recently being named one of the least affordable cities for renting a studio apartment by RentHops.
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