According to Zillow's Rent Index, median rental rates for houses in San Antonio are sky rocketing and this seems to be the trend across the country as well. The median rental rate for a home in San Antonio metropolitan area is $1,299, a 4.3 percent increase over this same time last year. This rental rate was based off a median home value in San Antonio of $145.700.
In other major cities in the state of Texas, home rental rates in the Dallas-Fort Worth metro area rose 4.9 percent over the last year to $1,443. In Houston, home rental rates rose 5.9 percent to $1,497. In Austin, home rental rates rose 7 percent to $1,657. Yes, I know Austin rental prices rose since my daughter rented a one bedroom apartment this past November for $1,600 per month.
Nationwide, the median home rental rate is $1,350, up 3.3 percent from January 2014. Zillow's Chief Economist, Stan Humpries, stated in a recent news release that more than one third of Americans are renters. However, today's renters are future buyers, and many are wanting to obtain the American Dream of Home-ownership, but they are finding it more difficult to save up a down payment for a home with the rising and increasingly unaffordable rental rates. As a result, rising house rental rates could be a barrier to getting families into their own homes, he said.
If you're tired of paying high rental rates, and want to get on the path to owning your own home, then contact Jerry today at 210.789.4216. Search for Homes in San Antonio, and call for a personal showing appointment. Find out about First Time Home Buyer programs that may help you with down payment assistance, and closing costs for the loans. Learn about the steps to purchasing your own home, and stop paying those increasing higher rental rates.
Your Military Relocation Specialist "Serving You For All Your Real Estate Needs"
Jerry Newman, REALTOR®
US Army Retired
Military Relocation Professional
900 NE Loop 410 Suite D303
San Antonio, TX 78209
Helping and Serving the real estate needs of buyers and sellers in the Greater San Antonio, Bexar County, and all the surrounding areas.
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