1st Advantage MortgageSan Antonio rewards investors who read the city's permit rules first, because short-term rental permits differ by whether the owner lives on site.
Population: 1,526,656 (U.S. Census Bureau city and town estimate, July 1, 2024).
The San Antonio rental picture
San Antonio's rental demand draws on several large military installations, the medical center, the tourism economy around the River Walk and a university base at UTSA and Trinity. The housing stock is largely single-family ranch homes, with duplexes and fourplexes concentrated closer in, and military assignments create turnover that suits a reserve plan. A DSCR file here is built on the lease or an appraiser's rent schedule.
Districts that matter in San Antonio
- Southtown and King William. historic districts with older homes and small multifamily close to downtown
- Alamo Heights. high-priced residential area with strong demand and low turnover
- Stone Oak. northern suburban subdivisions near the medical and corporate employers
- Medical Center. hospital and research workforce renting nearby ranch homes and apartments
- West Side. older single-family stock with lower purchase prices
Licensing, registration and nightly-stay rules
San Antonio requires a short-term rental permit for each unit, with Type 1 for owner or operator occupied and Type 2 for units that are not, and a surcharge applies to Type 2. Short-term rentals are barred in several commercial and industrial districts, and Type 2 units face density limits by block face that can require Board of Adjustment relief. A standard long-term lease needs none of that, and the city publishes permit eligibility through its Development Services Department.
Local rules checked October 2026 against: San Antonio STR permits, San Antonio code Chapter 16. Rules change, so confirm with the city before you rely on them.
What to price into the payment
Texas has no state personal income tax, and property taxes, set locally, are a large part of the payment, so the post-purchase estimate matters more than the seller's bill. Older homes can face foundation and drainage repair costs that appraisals and insurers notice, so inspect before the ratio.
San Antonio rental market at a glance
Start with the two numbers every DSCR file turns on. Rent in San Antonio runs a median $1,324 a month (close to the Texas median of $1,403), and the median owner-occupied home is worth $235,700. A quick screen: twelve months of San Antonio median rent over its median home value equals 6.7%, neither especially thin nor especially rich. Use it to compare markets, then replace it with real rent evidence for the address.
| Indicator | Texas | San Antonio | Difference |
|---|---|---|---|
| Annual property tax bill, median | $4,232 | $4,122 | -3% |
| Household income, median | $78,476 | $65,056 | -17% |
| Typical owner-occupied value | $283,800 | $235,700 | -17% |
| Typical monthly rent | $1,403 | $1,324 | -6% |
| Persons per household | 2.69 | 2.62 | |
| Long commuters, 45 min plus | 16.9% | 11.0% | -35% |
| Degree holders, age 25+ | 33.8% | 29.0% | -14% |
| Workers on their own account | 10.5% | 9.4% | -10% |
| Renters paying 30%+ of income | 51.7% | 53.7% | +4% |
| Units sitting vacant | 9.4% | 9.5% | +2% |
| Typical construction year | 1992 | 1985 | |
| Annual rent divided by value | 5.9% | 6.7% | +14% |
| Households that rent | 37.4% | 47.8% | +28% |
| Tax as a share of home value | 1.49% | 1.75% | +17% |
| Residents (Census estimate) | 30,188,424 | 1,479,835 |
Tenure in San Antonio is split fairly evenly: 47.8% renter-occupied and 52% owner-occupied, with the renter share well above the Texas median of 37%. Incomes matter for rent growth: the median household earns $65,056, about 17% below the Texas median of $78,476, and 54% of renters are already cost-burdened at 30 percent of income or more.
The kind of housing in San Antonio
Multifamily matters in San Antonio. About 37% of housing units are in multi-unit buildings, and 7% are in two to four unit properties that fit standard DSCR programs. The median home was built in 1985, a middle-aged stock where roofs, HVAC and water heaters are the main repair items.
About 10% of San Antonio's housing units are vacant, and the rental vacancy rate (units for rent against rented plus for-rent units) works out to 8.9%.
What the data means for San Antonio buyers
A 6.7% gross yield makes San Antonio a market where the ratio is achievable but not automatic. A few hundred dollars of extra insurance or dues can decide a borderline file. Housing here is neither new nor ancient, so condition varies widely from block to block and the inspection tells you more than the median. A 48% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Taxes and risk in San Antonio
In San Antonio the median tax bill for an owner-occupied home is $4,122, or about 1.75% of value (Texas overall: 1.49%). That bill is close to the Texas median of $4,232. That is about 26% of a year of median rent gone to taxes before the loan is even counted.
County-level hazard data from FEMA (National Risk Index 1.20) shows Bexar County with relatively high overall risk and hail (very high), tornadoes (very high) and riverine flooding (very high) at the top of the list.
| Hazard in Bexar County, FEMA index | Level |
|---|---|
| Heat waves exposure | Relatively High |
| Riverine flooding exposure | Very High |
| Tornadoes exposure | Very High |
| Hail exposure | Very High |
| Social vulnerability score | Relatively Moderate |
| Annualized loss estimate | Relatively High |
| Composite risk | Relatively High |
Flood risk in San Antonio is parcel by parcel: check the address on FEMA's flood map service, because a mapped high-risk zone means required flood cover and a heavier payment.
A worked DSCR test for San Antonio
At the city medians a DSCR file in San Antonio has $980 a month after taxes to cover principal, interest, insurance and dues if the ratio is 1.00, or $716 if the ratio is 1.25. Those two numbers show why insurance quotes and tax estimates come first.
Rental rules for San Antonio, TX
If you are weighing nightly income in San Antonio, the state tax backdrop is this. Texas imposes a state hotel occupancy tax on rentals of 29 days or less, collected by the owner unless a booking platform collects for the owner, and cities, counties and special districts can add a separate local hotel tax that the owner must register for and remit.
Before you set the San Antonio rent, know that Texas caps the security deposit this way: No statutory cap (Tex. Prop. Code §§ 92.103, 92.104, 92.107). Entry to a tenant's unit is governed as follows: No statute; entry rules come from the lease. Texas gives a landlord 30 days after the tenancy ends to return a deposit, an easy deadline to miss without a checklist.
Where San Antonio sits among nearby places
Prices in the comparison range from $310,400 in San Marcos to $339,400 in New Braunfels, with San Antonio at $235,700.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| San Marcos | 69% | $4,774 | $310,400 | 70,897 | $1,322 |
| New Braunfels | 35% | $4,500 | $339,400 | 104,643 | $1,654 |
| San Antonio | 48% | $4,122 | $235,700 | 1,479,835 | $1,324 |
The renter base in San Antonio
9.4% of employed residents work for themselves, which matters here because DSCR lending does not ask for tax returns or pay stubs. Looking at who fills the rentals, government workers are about 14% of employment, 29% of adults hold a bachelor's degree or higher and 11% of commuters travel 45 minutes or more.
University of Texas at San Antonio, University of the Incarnate Word, University of Texas Health Science Center at San Antonio and Texas A&M University-San Antonio are the named colleges for the San Antonio area, a source of steady tenants but also of a lease cycle that follows the academic calendar. For getting around, San Antonio has interstate access via I-10, I-35, I-410 and I-37 and air service through San Antonio International Airport and Stinson Municipal Airport, which matters to commuters and to out-of-town owners planning a visit.
Investor-type guides for San Antonio
- Long-Term Rental Investors in San Antonio
- BRRRR Investors in San Antonio
- Out-of-State Investors in San Antonio
Before you make an offer in San Antonio
A good San Antonio file has four pieces: rent evidence, a tax estimate, an insurance quote and cash. Preview the ratio in the calculator, then apply or talk to us.
More Texas markets
- All Texas DSCR loans
- DSCR loans in New Braunfels, TX
- DSCR loans in San Marcos, TX
- Every market we cover
References
- Federal hazard index, TX
- Encyclopedia entry for San Antonio
- Text of Tex. Prop. Code §§ 92.103, 92.104, 92.107 for San Antonio landlords
- Texas Comptroller, hotel occupancy tax (Texas)
- Lodging tax reference: Hotel tax FAQ for short-term rentals
- Census ACS profile behind the San Antonio figures
The San Antonio statistics are five-year ACS estimates (2020 to 2024), which have sampling error. For Texas tenant law we used RedFlagLease under CC BY 4.0 plus the linked statutes. Facts were checked in October 2026, and rules change.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Can I run a non-owner-occupied short-term rental in San Antonio?
Yes, with a Type 2 permit, but Type 2 units face density limits by block face and a surcharge. Check the block's current density with the city before you rely on nightly income.
Lease or market rent: what counts in San Antonio?
Underwriters take the lease if one exists and compare it with the appraisal's rent estimate; the lower figure often governs. San Antonio median rent is $1,324.
How much payment fits the median San Antonio rent?
Yes, the payment includes principal, interest, taxes, insurance and association dues. At the San Antonio median rent of $1,324, a 1.25 ratio allows about $1,059 in total payment, of which roughly $344 a month goes to median taxes.
Are San Antonio property taxes high for Texas?
Typical owners pay $4,122, or 1.75% of home value, with Texas overall at 1.49%. Do not assume the seller's bill carries over to you.
Is short-term rental income allowed for a San Antonio DSCR loan?
Depending on the lender, yes, if the property may legally be used that way and income is documented. Confirm the local permit, association rules and Texas lodging taxes before you underwrite nightly income in San Antonio.
When must a San Antonio landlord return a deposit?
Start with Tex. Prop. Code §§ 92.103, 92.104, 92.107. The limit: No statutory cap. Return window: 30 days. Talk to a Texas attorney for a lease form that matches.
How exposed is San Antonio to natural hazards?
At the county level FEMA calls overall risk relatively high. Insurance, not the index, shows up in the ratio, so price a policy for the San Antonio address.
How do LLC closings work for San Antonio rentals?
It is optional. Lenders will close in a properly formed LLC and generally want the members to guarantee. Ask your accountant how a TX entity would be taxed.