Thinking about buying or holding a rental house in San Antonio but unsure where to start? You’re not alone. Between new build-to-rent neighborhoods, shifting rents, and operating costs, single-family rentals can feel complex. In this guide, you’ll get plain-English numbers, a simple underwriting example, and a practical checklist to help you decide if an SFR in Bexar County fits your plan. Let’s dive in.
Market snapshot: rents, prices, supply
As of February 16, 2026, the citywide median rent was about $1,498 per month according to Zumper. That figure blends apartments and houses. House-only samples commonly show roughly $1,500 to $1,900 for 2–3 bedroom homes in San Antonio, with newer or larger homes over $2,000, based on Rentometer summaries. For purchase prices, the San Antonio Board of Realtors reported a median sale price near $290,000 in February 2025. Those three numbers frame the math for most local SFR deals.
- Citywide median rent: about $1,498 (Feb 16, 2026)
- Typical SFR rent range: ~$1,500–$1,900 for 2–3 beds
- Median sale price: ~$290,000 (Feb 2025)
Supply is the key near-term risk to cash flow. San Antonio has been a top market for build-to-rent deliveries, which increases competition and can push up vacancy in nearby submarkets. RentCafe’s BTR snapshot highlights the scale of new single-family rentals in Sun Belt metros like ours. Nationally, single-family rental vacancy climbed to about 6.3% in Q1 2025, per Rentometer’s mid-year report. Local asking rents have been flat to slightly down in recent 12-month stretches, so plan conservatively on rent growth.
Why demand holds up here: San Antonio’s diverse job base, including Joint Base San Antonio, large hospital systems, and universities, supports steady interest in single-family homes from families, military households, and professionals. That breadth of employment is a core reason SFRs remain attractive even when supply rises.
What SFR tenants want
Leasing is seasonal. Late spring through August typically brings the most activity, while winter is quieter. When new SFR communities deliver, nearby landlords may see longer days on market or offer small concessions to compete.
Features that help you stand out in San Antonio:
- Central air conditioning and in-unit laundry
- Fenced yard and a garage or secure off-street parking
- Durable, low-maintenance finishes and a dishwasher
- High-speed internet and a simple work-from-home setup
- Pet-friendly policies with clear fees and screening
If you allow pets and offer a clean, well-maintained yard and garage, you usually widen your renter pool and support longer stays.
How returns work: simple example
Two quick metrics help you compare deals fast: gross rent multiplier (GRM) and cap rate.
GRM = Price ÷ Annual Rent. Using city medians: $290,000 ÷ ($1,498 × 12) ≈ 16.3. A GRM around 16 suggests thinner cash flow unless expenses are very lean or rents are above median for your price point.
Cap rate = Net Operating Income (NOI) ÷ Price. To estimate NOI, subtract realistic operating costs from gross rent.
Illustration only (use your comps and actual quotes):
- Price: $290,000
- Estimated monthly rent: $1,700 (within the typical SFR range)
- Annual gross rent: $20,400
- Operating expenses as a share of rent: test 40% and 50%
Results:
- At a 40% expense ratio: NOI ≈ $12,240; Cap rate ≈ 4.2%
- At a 50% expense ratio: NOI ≈ $10,200; Cap rate ≈ 3.5%
What this shows: returns at the median can be tight after expenses. Investors who buy at a discount or in higher-rent pockets sometimes see cap rates near 5–7% on specific deals, but those typically require careful selection and strong operations.
Financing note: DSCR loans and portfolio options are available in Texas. Debt costs and required reserves can change your cash-on-cash result more than any other line item. Always plug in a real lender quote before finalizing a deal.
Operating costs and local rules
Plan your budget carefully. Small swings in taxes, insurance, and maintenance can shift a borderline deal into negative cash flow.
Property management: Many single-family managers charge about 8–12% of monthly rent, with a leasing fee often equal to 50–100% of one month’s rent. See this property management fee guide for typical structures.
Maintenance and capital reserves: A common starting point is 5–10% of gross rent for routine maintenance, plus a separate 5–10% reserve for larger items like roofs or HVAC. Owner surveys show maintenance pressures have risen, so keep your reserves healthy. Review landlord statistics on maintenance trends as you plan.
Insurance: Landlord policy pricing varies by coverage and risk profile. Get quotes for each address early in underwriting. You can start with an insurance quote resource to understand coverage types and questions to ask.
Property taxes: Texas relies heavily on local property taxes. Always check the exact parcel in the Bexar Appraisal District (BCAD) for assessed values, tax jurisdictions, and history. School district and special district rates can change total taxes more than you expect.
Legal basics in Texas (high level, not legal advice):
Security deposits: Landlords must return the deposit, or provide an itemized list of deductions, within 30 days after the tenant moves out, subject to statutory rules. See the Texas Attorney General guidance on renters’ rights.
Evictions: For nonpayment, Texas commonly starts with a 3-day notice unless your lease sets a different period. Justice Court typically sets trial dates 10 to 21 days after filing, with a five-day appeal window. A straightforward, uncontested case can take roughly 3 to 6 weeks from notice to writ in normal conditions. Review a Texas eviction process overview and check your local JP court for details.
Rent control: Texas state law preempts local rent control. Standard landlord obligations apply, including habitability and required disclosures. If you plan short-term rentals, review local code and HOA rules for registration or inspection requirements.
Step-by-step evaluation checklist
Use this quick framework to screen and then underwrite a San Antonio SFR.
- Fast screen
- Validate market rent with 3–5 active and 3–5 closed comps for similar beds, baths, and condition. A quick look at Rentometer’s San Antonio page can help you frame the range before pulling neighborhood-specific comps.
- Compute GRM and target cap rate. If GRM feels high and the projected cap rate is under your minimum after expenses, pass early.
- If financing, estimate DSCR using your lender’s quoted P&I payment.
- Property-level due diligence
- Taxes and assessment: Pull the parcel in BCAD. Confirm the taxing jurisdictions and recent assessment trends.
- Insurance: Get a property-specific landlord quote and check any flood or wind coverage needs. A comparison resource like Policygenius can help you prepare questions.
- Physical condition: Inspect systems, roof, foundation, and major appliances. Budget an initial repair list and set 12-month reserves. Use the 5–10% maintenance and separate 5–10% capex-reserve rules as a starting point and adjust for age and condition.
- HOA and use limits: Review covenants for any rental restrictions, lease term minimums, or short-term rental rules.
- Flood and other risks: Check FEMA maps and local flood resources. Required flood insurance can change your returns.
- Property management: If you will not self-manage, get two quotes and ask about vacancy assumptions, maintenance markups, leasing fees, and reporting cadence. Management structure can change your NOI more than you think.
- Underwriting math (plug your real numbers)
- Inputs: purchase price, monthly rent, vacancy allowance, property taxes, insurance, management fee, maintenance, capital reserves, HOA dues, utilities you cover, and any city fees.
- Outputs: NOI and unlevered cap rate. Then layer in your actual loan quote to compute DSCR and cash-on-cash.
- Sensitivity tests: A 5% rent drop, a 20% bump to maintenance or insurance, and one extra month of vacancy. If the deal still works under those hits, you likely have a stronger buy.
Red flags to watch
- A newly completed build-to-rent community nearby that competes for the same renter profile. See BTR supply trends.
- HOA restrictions on leasing or special assessments in the pipeline.
- Sharp increases in assessed value or unusual tax district add-ons in the BCAD history.
- Repeated tenant turnover in prior listings, or evidence of ongoing repair issues.
- Insurance quotes that come in far above your initial estimate.
Bottom line for San Antonio SFRs
San Antonio remains a practical, moderately priced market with steady renter demand. The tradeoff is supply. With new BTR homes and higher vacancy than peak years, you need to price carefully, keep a realistic expense budget, and choose features that help your home lease fast and stay occupied. If you underwrite with conservative rents, honest expenses, and real financing terms, single-family rentals here can still play a strong role in your portfolio.
Ready to run the numbers on a specific property or map out a buy-and-hold plan near JBSA or across Bexar County? Schedule a Free Consultation with Scott Alexander to get local comps, underwriting support, and a clear next step.
FAQs
What are typical single-family rents in San Antonio?
- Citywide median rent was about $1,498 in February 2026, and many 2–3 bedroom houses lease around $1,500 to $1,900 depending on location and condition, per Zumper and Rentometer.
How does San Antonio’s supply affect my rental house?
- A large build-to-rent pipeline has added competition, which can raise vacancy and concessions in certain submarkets, as shown in RentCafe’s BTR snapshot.
What operating costs should I budget for an SFR in Bexar County?
- Common items include management fees around 8–12% of rent, a leasing fee, maintenance and reserves totaling roughly 10–20% of rent, property taxes per BCAD, and insurance based on local quotes; see this fee guide and plan conservatively.
How long is the Texas eviction process for nonpayment?
- Timelines vary, but typical steps include a 3-day notice, a Justice Court trial 10 to 21 days after filing, and a five-day appeal window, producing roughly 3–6 weeks in uncontested cases; see this Texas eviction overview.
Where can I verify property taxes for a San Antonio rental?
- Search the parcel in the Bexar Appraisal District to review assessments, taxing jurisdictions, and history before you buy.
What deposit and return rules apply to Texas landlords?
- Texas landlords must return the security deposit or provide an itemized deduction list within 30 days after move-out, subject to state rules; review the Texas AG’s renters’ rights page.
