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Apartment rental rates fell 9% in San Antonio, making it the fourth-largest fall in the nation this month, Abodo reported. An average one-bedroom cost $868 in June, but only runs $794 in July.
Abodo also found that during Q1 2016, only 7% of rental housing units were available nationwide, and about 36% of US households lived in rentals last year. Since 2005, 9 million households have been added in the US, which is the largest 10-year gain in history. This enormous leap is attributed to those in their 50s and 60s—not to Millennials leaving the nest, as you might think.
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