The cost of renting an apartment inn San Antonio rose 0.9% in May, and 14.5% since last year, according to the report. Credit: Courtesy Image / Urban Genesis

The average rent in the San Antonio metro area has jumped 24.3% since last June, landing the Alamo City among the U.S. metros with the fastest-rising rents, according to a new report.

The average rent in San Antonio hit $1,501 in June, meaning it had the tenth-fastest growth among major U.S. markets, according to an analysis by online real estate broker Redfin.

Cincinnati, Ohio, was the city with the fastest growth in average rent, posting a 39% increase over the past 12 months. Seattle (up 33%) and Austin (up 32%) ranked as the No. 2 and No. 3 cities, respectively.

Even though the rise in San Antonio-area rents outpaced the national average of 14.1%, the local average is still about $500 lower than that of the U.S. as a whole. What’s more, at an average price of $1,501, a family in San Antonio earning $53,420 — the median household for families here in 2020 — is only spending about a third of their income on rent.

In Austin, a family making around $75,000 — the median family income in the state capital — wouldn’t even qualify for many rentals since landlords often require a family to earn at least three times the yearly rent. According to Redfin, the average rent there is $2,505.

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This article appears in Jul 13-26, 2022.

Michael Karlis is a multimedia journalist at the San Antonio Current, whose coverage in print and on social media focuses on local and state politics. He is a graduate of American University in Washington,...