San Antonio Commercial Real Estate Market Report
San Antonio shows a mixed commercial real estate picture. Office vacancy remains below many peer markets, retail fundamentals are supported by resilient demand and population growth, while industrial and multifamily continue to work through recent supply additions.
Q2 2026 | Report source date: May 11, 2026
San Antonio market snapshot.
San Antonio shows a mixed commercial real estate picture. Office vacancy remains below many peer markets, retail fundamentals are supported by resilient demand and population growth, while industrial and multifamily continue to work through recent supply additions.
Market metrics dashboard.
Animated market signals.
Vacancy comparison
10.7%
10.4%
4.0%
16.0%
Rent growth signal
0.4%
1.2%
1.2%
-3.4%
1M SF absorbed | 562K SF delivered
2.3M SF absorbed | 3.8M SF delivered
825K SF absorbed | 1.4M SF delivered
311 units absorbed | 769 units delivered
Office, industrial, retail, and multifamily trends.
562K SF delivered, 1M SF absorbed, 10.7% vacancy, 0.4% rent growth.
CoStar reports San Antonio office vacancy below the U.S. and statewide averages, with limited construction and moderate demand helping keep the market steadier than many peers.
3.8M SF delivered, 2.3M SF absorbed, 10.4% vacancy, 1.2% rent growth.
Industrial vacancy is close to record highs as a wave of deliveries has outpaced absorption, particularly in larger warehouse space.
1.4M SF delivered, 825K SF absorbed, 4.0% vacancy, 1.2% rent growth.
Retail vacancies remain low, supported by positive absorption, consumer-base growth, and tenant interest in expanding across South Central Texas.
6,769 units delivered, 3,311 units absorbed, 16.0% vacancy, -3.4% asking rent growth.
A record development wave continues to weigh on multifamily fundamentals, though lower construction starts point toward better supply-demand balance ahead.
Notable trends.
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Data is sourced from CoStar market reports and other market sources provided to Bisono Realty Advisors Group. Information should be independently verified before making leasing, acquisition, disposition, financing, or investment decisions.