Plus, we provide information on where to find a mortgage lender in San Antonio and current mortgage rates. So whether you're just starting your research or are ready to take the plunge, this post has everything you need!
What's the real estate market like in San Antonio?
San Antonio's real estate market has a lot to offer. While home prices have been on the rise, like much of the U.S., San Antonio is considered the top market for homebuilding prospects heading into the new year, according to a recent real estate industry report that speaks to investors' confidence in the Alamo City. In fact, the San Antonio real estate market is forecast to be among the best in the U.S.
San Antonio was ranked as the fastest-growing U.S. city in terms of numeric population growth between 2021 and 2022, according to new data from the U.S. Census Bureau. So it’s a great time to move to this vibrant, growing city!
-Average home price
The median listing home price in San Antonio, TX, was $305K in October 2022, trending up 8.9% year-over-year. The median listing home price per square foot was $169.
There is a wide range of property types and styles, from townhomes to single-family homes.
-Cost of living
San Antonio has an affordable cost of living compared to other large cities, and there are many things to do in the area that won't break your budget.
-Don’t forget your car!
Though it's possible to get around San Antonio without a car, the city was clearly made for motor vehicles. That said, San Antonio is ranked 37th among large U.S. cities by Walk Score for walkability.
The walkability score is based on an analysis of a metropolitan area's walkability and how easily people can get around on foot rather than in a vehicle to get to the places they need to go. For example, work, school, the grocery store, or the doctor's office. However, unless you plan to live in downtown San Antonio -and stay there- it makes sense to bring a car!
-Other important demographics
San Antonio’s population is just over 1.5 million - and growing! The average age of a resident is 33.7 years. So it’s great for young people and families!
What are the best neighborhoods in San Antonio?
When it comes to choosing a neighborhood to live in, you have quite a few options to choose from. Popular neighborhoods include Alamo Heights, Terrell Hills, and Stone Oak. Each of these areas has its own unique feel, as well as great schools and amenities.
Terrell Hills and Alamo Heights are considered “Uptown” neighborhoods, about four miles north of downtown San Antonio. Meanwhile, Stone Oak is a well-designed master-planned community in North Central San Antonio. It’s known for being an easily accessible “everything in one place” community.
What are the major industries and biggest employers in San Antonio?
The primary industry in San Antonio is healthcare, with other major employers being financial services, information technology, cyber security, tourism, and the military. Some of the biggest employers in the city include USAA, Valero Energy Corporation, H-E-B Grocery Company, and Northside Independent School District. San Antonio has a low unemployment rate of just over 4%.
Where are the best school districts in San Antonio?
San Antonio has a variety of excellent public and private school options for families. The top school districts in the area include Northside, Alamo Heights, and Schertz-Cibolo-Universal City ISD.
For secondary schools, prominent high schools in the area include Alamo Heights HS, Lee HS, New Braunfels HS, Jefferson HS, Judson HS, Steele HS, Churchill HS, Reagan HS, Johnson HS, Clark HS, Saint Mary’s Hall, Antonian Preparatory, and the Texas Military Institute.
What are some of the highlights of moving to San Antonio?
San Antonio is a great city for young adults and families, with plenty of things to do and see. The city has an impressive selection of restaurants, museums, parks, and other attractions. Plus, it's a great place to live if you're an outdoor enthusiast - there are plenty of trails, rivers, and lakes to explore.
Are there any major downsides?
San Antonio can feel isolated at times due to its distance from other cities in Texas. Additionally, the city can be quite hot in the summertime, with temperatures often reaching over 100 degrees.
But when looking for a place to settle down, it’s important to remember that nowhere is perfect. Though San Antonio comes pretty close!
Finding a mortgage lender in San Antonio
If you're looking to purchase property in San Antonio, you'll need to find a reliable mortgage lender.
-Current mortgage rates
Current mortgage rates in San Antonio are very competitive, as we’ve seen rates climb all year. Current rates in San Antonio, Texas, are 6.51% for a 30-year fixed loan, 5.93% for a 15-year fixed loan, and 6.38% for a 5-year ARM. With so many variables, it’s important to find a lender you can trust to help you get a great deal on your mortgage loan.
-Different types of home loans
You can find a variety of home loans in San Antonio, including conventional loans, FHA loans, VA loans, and more. Working with an experienced local lender is a great way to find the best mortgage type for your needs and circumstances.
Get started today!
Are you considering a move to San Antonio, TX? If so, you're in for a treat! This vibrant city has much to offer its residents. From the world-class Alamo Museum to the beautiful River Walk, there's something for everyone here. So whether you're just starting your research or are ready to pack your bags, we've got you covered!
Are you ready to make your move a reality? Reach out today to get pre-approved for a home loan! Our team of local Texas mortgage lenders is here to help make your dream of living in San Antonio come true. And with our list of things to know before moving to the city, you're now one step closer to making the move. Good luck!
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