The city of San Antonio is part of the metropolitan area of San Antonio-New Braunfels and with a population of 1.5 million people, it is the second-most populous city in Texas. San Antonio’s population has grown rapidly in the past years and this shows a high desire amongst people to live in this Texan city.
There are a couple of reasons why people relocate to the city of San Antonio and based on their feedback here are some of them: strong job market, local cuisine, a family-friendly community, the cities’ historical significance, vibrant culture, activities, events, and sports. But, most important people are really drawn to the area because of the low costs of living.
The cost of living in San Antonio, Texas is really low compared to the rest of the country. Prices for housing, transportation, utilities, food, and healthcare are lower than other metropolitan cities. In San Antonio prices are 14% below the national average and compared to the city of New York it is 36% cheaper. This makes the costs of living in San Antonio, Texas 92% cheaper than other cities in the USA.
Estimators indicate that the monthly cost per person in San Antonio would be about $800 without rent and for a four-person family monthly costs would be about $2,800 without rent. With a median household income of $56,000, San Antonio stands out because of its affordability. An important component as far as the costs of living goes to housing, which is also cheap.
Median home prices in San Antonio round at about $175,000 which makes housing expenses 24% cheaper than the national average. The prices have gone up quite a bit in the past few years and they will continue to rise, but the real estate market is still amongst the cheapest ones in Texas. The median price per square foot is $120 which is below the price of the metro average.
Also, 65% of the household in San Antonio is owner-occupied while the rest of the household is renter-occupied.
The average rent for the San Antonio area is about $1000 per month and the prices here vary, depending on what you are looking for in terms of apartments and square footage as well as comfort. Apartment rent ranges from $500 for studio apartments up to $2000 for more luxurious apartments. Only 2% of apartments exceed the $2000 mark and 82% of them are within the rent range of $700 to $1,500.
Investors find the real estate market of San Antonio very tempting and affordable but this could also be a good opportunity for you to buy or build a home here at a convenient price. As you can see prices for homes in San Antonio are cheap, so get in touch with one of our top realtors in San Antonio TX and fulfill your dream of homeownership.