Housing report

San Antonio excels as top affordable housing market, report says

For many middle-income households in the United States, the coronavirus pandemic has put adequate and affordable housing even further out of reach. Fortunately, some metropolitan areas, including San Antonio, facilitate access to adequate and affordable housing.

Data released March 15 by the Urban Land Institute’s Terwilliger Center for Housing shows that of the 50 most populous metropolitan areas, only two performed better than the median on at least two-thirds of 30 housing measures. examined. These two metropolitan areas are San Antonio and Pittsburgh. San Antonio climbed above the median for nearly 70% of the metrics, included in the Terwilliger Center 2021 Home accessibility index report.

In total, the Terwilliger Center examined data from 112 metropolitan areas in five categories: overall affordability, affordability of ownership, affordability of rental, neighborhood desirability and access, and housing creation. Although the index doesn’t assign a score to every metropolitan area, Ogden, Utah, landed at No. 1 for ticking the most boxes related to housing affordability.

“Patterns of housing insecurity and racial and socioeconomic inequality that existed before COVID-19 have been exacerbated by the pandemic and associated economic downturn, said Michael Spotts, report author and visiting scholar at Terwilliger. Center. Release. “We are facing a situation in which many people who have played a vital role in getting the population as a whole through this crisis are facing years of uncertainty and economic hardship as the country recovers.

San Antonio continues to maintain its status as the most affordable real estate market in Texas.

In 2020, the median home price in the San Antonio area soared 8.2% to $249,000, according to the Texas Association of Realtors said. That compares to $344,000 in Austin, $291,000 in Dallas-Fort Worth and $260,000 in Houston. In the fourth quarter of last year, San Antonio — at $984 — was the only major Texas metro market with a monthly rental rate below $1,000, according to the association.

Always a report of the San Antonio Office of Historic Preservation warns that Alamo City “is in a housing affordability crisis.” According to the report, one-third of San Antonio households spend more than 30% of their income on housing, and nearly half of all renters are “cost overburdened.” The report adds that this situation is getting worse.

“Over the past decade, while median household income has increased 1.9% per year, house prices have increased 4.7% per year, which means that the American dream of homelessness home ownership remains a dream for tens of thousands of San Antonio citizens,” the report said.