%
CapRateCity
Free cap rate calculators for every US market
San Antonio, TX

Appreciation & Growth Forecast: San Antonio, TX

Updated 2026 · Based on median market data for San Antonio, TX

Cap Rate
3.15%
Median Price
$280K
Rent/Mo
$1,420
1% Rule
0.51%
Fails

Historical Appreciation

Home values in San Antonio, TX have appreciated at 2.5% per year. Appreciation is modest, meaning total returns will be driven primarily by cash flow rather than equity gains. This is actually preferred by many investors who want predictable, income-based returns.

5-Year Price Projection

If San Antonio continues appreciating at 2.5% annually, the current median of $280,000 would reach approximately $316,794 in 5 years — an equity gain of $36,794 on a property purchased at the median. With a 20% down payment of $56,000, that represents a 66% return on invested equity from appreciation alone. Combined with 5 years of NOI totaling approximately $44,126, the projected total return is $80,920 — a 145% cumulative return on the initial investment.

Growth Drivers

San Antonio's population growth of 1.4% is moderate and positive, supporting steady but not explosive demand for housing. Markets with this growth profile tend to appreciate consistently without the boom-bust cycles of hyper-growth metros.

Total Return Analysis

Smart investors evaluate both cash flow AND appreciation. In San Antonio, the 3.15% cap rate provides modest ongoing cash flow, while 2.5% annual appreciation adds an equity component. Conservative underwriting is essential. Focus on deals where the cash flow stands on its own, and treat any appreciation as a bonus.

Full San Antonio Analysis →Cap Rate CalculatorBRRRR Calculator

More San Antonio Guides

Rental Property Investment GuideRent AnalysisProperty Tax GuideCost of Living & AffordabilityNeighborhood Investment Guide

Similar Markets in the South

Arlington, TX$295K · $1,480/mo
3.1%
Raleigh, NC$395K · $1,650/mo
3.2%
Frederick, MD$380K · $1,680/mo
3.2%
Cary, NC$480K · $1,920/mo
3.0%
Asheville, NC$380K · $1,580/mo
3.3%
The CapRateCity Report
Weekly market analysis: highest cap rate cities, emerging markets, and deal breakdowns. Free, no spam.