SAN ANTONIO, Texas–Driving through the residential neighborhoods of San Antonio, it is easy to understand why the Alamo City is at the center of Texas’ hot housing market. With cedars and live oaks gracing front yards, and crepe myrtle and wisteria adorning gardens, the city’s residents have earned a well-deserved reputation for their commitment to keeping San Antonio beautiful.
San Antonio also occupies a unique place in American society, as it is home to 250,000 veterans and 80,000 active duty personnel, all of whom enjoy a city that is the center of Texas’ rich Hispanic culture.
It helps explain why the prices of homes in San Antonio have been increasing over the last few years. We stopped in to talk with Scott Liberty, a Real Estate Agent with Z&R Realty, to learn more about why San Antonio has become a magnet for both residential and commercial real estate investors.
“San Antonio is currently trending as one of the top places to live in the United States,” says Scott.
“It’s the result of different factors, including the military and the thousands of jobs it provides, an excellent education system, and a low unemployment rate of 3.3% as of April 2022. Both our economy and job market are thriving, and that is driving up home prices and bringing more families to the city.”
It helps, Scott continues, that San Antonio’s industries are so diversified.
“We may be a military city, but our jobs are also driven by healthcare, construction,bioscience, aerospace, IT, cybersecurity, and new energy,” he says.
“It’s a big reason why in the last quarter of 2021, our job growth expanded an annualized 2.7%, which was above America’s 2.1% gain. When people are steadily employed, that’s when you see renters become home buyers, which is what is happening in San Antonio: people can afford to own homes.”
Scott believes that a significant factor in San Antonio’s real estate boom has been the city’s strong tourism industry, which encompasses both San Antonio as well as the surrounding Hill Country.
“San Antonio has done an excellent job of developing its historical sites, including the Alamo, which draw visitors from around Texas and the United States,” Scott says.
“And, of course, we have the River Walk, the heart of our city. Its 100+ shops provide good jobs for residents and are a ton of fun for anyone to visit. When you add on tubing and canoeing in New Braunfels, riding the rides at Fiesta Texas, and taking in the history of Boerne, you have an area that has been ripe for real estate investors.”
While inflation is an issue around the United States, San Antonio remains relatively affordable.
“It’s a lot better than Austin, where the cost of living is outrageous,” says Scott.
“The cost of living here is 14% lower than the national average, which has led to our population growing to over 1.5M people.”
He admits that no one can predict when the housing market will cool off. “While higher interest rates can slow things down, today’s rates are right in line with what we saw pre COVID. So, the days of 3% rates may never come back. If we are all lucky enough to see it happen, it might not be for years,” Scott states.
As the prices of homes and commercial properties in San Antonio continue to rise, Scott offers would-be investors some final advice:
“Whether you are investing in commercial or residential real estate, you need to be in it for the long term and ride out the inevitable ups and downs in the market,” he says.
“If you bring that kind of mentality to investing in San Antonio’s housing market, you will be more likely to see the outcomes you want, all while living in a city that is full of friendly people and has much to offer its residents.”
Scott Liberty is a residential and commercial RealtorⓇ for Z&R Realty in San Antonio, Texas. A lifelong Alamo City resident, he obtained his degree with a concentration in Finance from the University of Texas San Antonio.
Now a well-known Real Estate Agent in San Antonio, Scott is a die-hard Packers fan, and when he’s not exploring the River Walk with his family, he enjoys watching sports car races and attending local concerts.
For more information about Scott and San Antonio’s real estate market, please visit his website or contact:
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