Is Northwest San Antonio Oversaturated?
Hi everyone, long time BP reader and first time poster!
I know a lot of people here have rentals in NW San Antonio. Would be great to get people’s thoughts on rent growth in the next 5-10 years.
I currently own two buy-and-hold 3/2 SFR properties in northwest San Antonio, inside the 1604 loop near Bandera road. I've been seeing a large number of available rentals on Zillow similar to my own houses, all in the ~$1200-1400 / mo price range. Some of them are sitting on the market for a month+ ; vacancy times appear especially long once you get above ~$1300 / mo.
Does anyone else feel there is a bit of oversupply of rental properties? Do you think the economy, wage growth, tenant base will support higher rents in the next couple of years?
Would love to get your thoughts!