New Braunfels Edition | May 2026

Real estate

BY AMIRA VAN LEEUWEN

As apartment options increase, concessions to renters increase

Although New Braunfels has the highest multi- family vacancy rate in the San Antonio Metropol- itan Statistical Area, the demand for new rental units remains strong, as more projects are being planned and built, according to a San Antonio Multifamily Q4 2025 market analysis from Austin Investor Interests. Austin Investor Interests is a rm that provides comprehensive data and analysis of the Greater Austin and San Antonio multifamily housing markets. Zooming out The Q4 2025 analysis found that renters are choosing to remain in newer single-family and duplex rental communities that oer amenities like garages, yards and pools, at a lower monthly cost than homeownership. “Additionally, single individuals who doubled up with roommates, along with remote workers, have opted to stay put amid economic uncertainty and a softer job market,” Austin Investor Interests Founder Robin Davis said in an email to Commu- nity Impact . Other factors, like rising evictions and a decline in immigrant tenants, are exerting a “downward pressure” on occupancy rates. New Braunfels has been one of the strongest submarket areas within the San Antonio Metropolitan Statistical Area over the past ve years with strong tenant demand and signicant developer interest in delivering new rental units. Within the past 24 months, more than 3,000 new multifamily units were added, increas- ing the city’s total rental inventory by about 32%. The city of New Braunfels is among the top ve highest-rent areas in the San Antonio Metropolitan Statistical Area at an average of $1,207 per month.

Historical rents and occupancy The fourth quarter of 2025 in the San Antonio market saw a 0.2% slight increase in occupancy.

0 500 1K 1.5K 2K 2.5K 3K 3.5K

Q2 Q3 Q4 2023

Q2 Q3 Q4

2024

2025

Fiscal quarter

0 82% 85% 88% 91% 94% 97% 100%

90.6%

88.2%

88.4%

Q2 Q3 Q4

Q2 Q3 Q4 2023

2025

2024

Fiscal quarter

SOURCE: AUSTIN INVESTOR INTERESTSCOMMUNITY IMPACT

of units. This will allow the market to return to a steady growth, Davis said in the email. However, there are still several projects in the works. New Braunfels has about 1,259 units under construction, which consists of 329 market-rate multifamily units and 930 build-to-rent sin- gle-family homes, according to the report. About 444 units are seeking permits and 85 units are permitted to break ground, according to a New Braunfels market-specic report from the rm.

Zooming in Renters will likely see more rent concessions in early 2026. Concessions are specials that reduce the market rent in hopes of incentivizing an individual to choose one property over another. The con- cessions have averaged up to 3 months free with additional deductions, such as gifts cards. New permit lings are expected to slow down and fewer project completions should ease the oversupply

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