Long-Term Rentals · Market playbook

Buying Rental Properties in San Antonio, TX

Buying rentals in San Antonio is a 6.52% gross yield play at a $251k median entry — $1,365/mo rent gross before expenses. The math has to clear before the property does.

DATA · Zillow Research (via scrape.do) · AS OF APRIL 2026

Workable 71/100

San Antonio is a workable straight-rental market — neither bonanza nor minefield.

TL;DR — data signals

→ Gross yield 6.52% — above national baseline
→ Rent $1,365/mo vs. national $1,930 — rent-weak
→ Cash flow expectation at 25% down / 7.5%: $50-200/door tight positive
→ Appreciation: softening, cash flow must carry the deal

Long-term rentals in San Antonio sit at the intersection of two numbers: typical home value $251,035 and median rent $1,365/mo. That's a 6.52% gross yield — well above the national 4-5% baseline. Cash flow does most of the heavy lifting here, with appreciation as a bonus.

Run the cash-flow math. Assume 20-25% down on a 30-year conventional rental loan at 7.5%, plus taxes + insurance + 8% property management + 8% vacancy/maintenance reserve + 8% capex reserve. At those inputs you'll likely clear $50-200/door — tight cash flow with appreciation expected to do the rest of the work. Underwrite conservatively.

Rent demand context: San Antonio rents ($1,365) run 29% below the national median ($1,930). Rent is the constraint — operational discipline matters more than acquisition skill here.

Appreciation thesis: San Antonio home values are -2.4% YoY. That's a softening market. Cash flow has to do all the work; don't underwrite expecting price growth to bail out a marginal deal.

Net: San Antonio is a workable rental market with tight margins — disciplined underwriting and operational excellence are the difference between profit and break-even.

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San Antonio at a glance