Although fast-rising prices may lead locals to disagree, a new study ranks San Antonio as the No. 5 U.S. metro where homebuyers get the most bang for their buck.
For the study, residential real estate platform Home Bay analyzed the median price per square foot for new single-family homes in the 50 largest U.S. metro areas. Researchers then ranked markets based on whether the median price per square foot was less than $200 and whether the median square footage of a single-family home was greater than 1,900 square feet.
San Antonio met both criteria. Homes here cost a median of $172 per square foot, and they’re also 2,036 square feet on average, according to the report.
Memphis came in as the No.1 city where homebuyers get the most for their money, followed by Indianapolis and Houston, respectively. Dallas also made the Top 10, landing at No. 8.
A recent study by online buying guide Consumer Affairs also named the Alamo City as the No.10 most affordable city for remote workers. That analysis ranked cities on how much residents spent monthly on housing, including mortgages and rent costs.
Even so, long-time San Antonio residents may beg to differ with studies citing the city’s abundance of affordable housing.
With the median asking price for a rental now topping $1,400 monthly and the average asking price for a single-family home hovering around $390,000, the Alamo City might be affordable for some people, just not many who live here.
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This article appears in Aug 24 – Sep 6, 2022.
