Bad news for San Antonio renters, but good news for investors. The real estate investment firm 'Home Union' lists San Antonio as one of its ten hottest rental markets in the country in 2016, News Radio 1200 WOAI reports.
San Antonio is number nine on the list, Austin is the only other Texas city listed, at number eight.
Steve Hovland of Home Union says the key to all of the top ten markets for apartment rentals is job growth.
"We expect the job growth to remain very strong this year," Hovland said of the metro San Antonio market. "The down side to oil isn't looking as down as it once was."
The study looked at single family residential housing markets. Hovland says the average rental home in the metro is expected to see between 4% and 5% rent increases in 2016, with the average rent for a single family home in San Antonio sitting at about $1165 a month.
"I expect those increases to continue for the rest of this year and into next year, barring some type of oil shock, or a national recession," he said.
Other strong housing rental markets are about what you would expect, including tech hubs like San Jose, Seattle, and San Francisco, as well as strong economies in places like Denver and Charlotte.