The cost of living in San Antonio is significantly lower than the national average, making it an attractive option for many. With affordable real estate, lower rents, and a variety of amenities, it's no wonder the city is booming. According to the Dallas Federal Reserve Bank, housing affordability in San Antonio has followed a national trend. If you're not sure if this city is right for you, there are still plenty of options.
Having a basic understanding of your monthly expenses can help you determine if you can afford the average rent in San Antonio. In addition to the city's mostly flat topography, you'll also have access to San Antonio B-Cycle, a bike-sharing program with over 50 stations across the city. It's important to keep in mind that costs can quickly and dramatically increase each month, including the average rent in San Antonio. This is why Verónica Soto, director of the City's Neighborhood and Housing Services department, isn't surprised that San Antonio is on that list.
By having an idea of how much you need to live comfortably in San Antonio, you can find an apartment that fits your budget and allows you to thrive in your new hometown. Non-essential goods and services can significantly increase the cost of living in San Antonio if you're not careful. As housing costs have risen over the past 10 years due to inflation and gentrification, so have property tax valuations, according to Soto. The final report of the Mayor's Housing Policy Working Group revealed that not only are housing costs rising faster than wages in San Antonio, but health care costs are also outpacing income growth.
GoBankingRates reported that San Antonio is among the 10 cities where the cost of living is increasing the fastest. Restaurateur Andrew McHugh has been inspired by his travels through Spain for his restaurants in San Antonio and his upcoming Austin concept, Luminaire.