A new Knock report places at the Alamo City as the No. 4 best place for millennials to buy homes because of tourist attractions such as the River Walk and the city’s vibrant and bar-filled downtown. Perhaps surprising to residents, the report also praised San Antonio’s “miles of pedestrian-friendly streets.”
The report also said millennials view San Antonio as a more affordable alternative to Austin, the top-ranked cit on its list. Average homes in the Alamo City sell for around $200,000 less than in the state capital, according to Knock's analysis.
Juan Sepulveda, a political science professor at Trinity University, told the Current that he expects people to continue flocking here as they're priced out of Austin and technology allows them to work from further away.
“The new twist is that people can work from anywhere, so I think there’s going to be interesting patterns in migration moving forward,” Sepulveda said. “And with the traffic and everything getting worse in Austin, you could see more people moving to San Antonio and working in Austin.”
Knock's top-ranked markets for millennial homebuyers are:
1. Austin, Texas
2. Des Moines, Iowa
3. Charleston, South Carolina
4. San Antonio, Texas
5. Atlanta, Georgia
Knock's report is only the latest suggesting San Antonio has become a hot real-estate market. Last month, Zillow listed the city as 2022’s fourth-hottest U.S. real estate market, and the bedroom community of New Braunfels was listed as one of the country's most desirable neighborhoods last week by OpenDoor.
But, the Alamo City’s brisk growth is causing a host of problems for longtime residents. The average rent price in San Antonio soared 30% in 2021, and the city’s cost of living skyrocketed 17% between 2010 and 2020, according to U.S. Census data.Stay on top of San Antonio news and views. Sign up for our Weekly Headlines Newsletter.