San Antonio STR market holds steady with 5,700+ active listings and $200+ ADR heading into 2026.
Market Overview
San Antonio is one of Texas’s largest short-term rental markets, supported by 37.6 million annual visitors drawn to the River Walk, the Alamo, and a year-round convention calendar. As of February 2026, the market carries 5,712 active listings, up from 4,498 in 2024, representing roughly 27% supply growth over two years.
The market-wide average daily rate climbed from $180 in 2024 to $200 in 2025, and sits at $215 in early 2026 data, reflecting consistent upward pricing pressure even as supply expanded. Average monthly revenue per listing was $2,791 in 2025, compared to $2,644 in 2024. Market-wide occupancy averaged 46% in 2025 before dipping to 38% in February 2026, which is typical for that shoulder month.
San Antonio’s STR density remains manageable relative to its visitor volume. With 1.43 million residents and a metro area anchored by military bases, medical institutions, and a large tourism economy, demand sources are diversified beyond pure leisure travel. That demand diversification helps smooth out seasonal dips that affect more resort-dependent markets.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue | Active Listings |
|---|---|---|---|---|
| Jan | 38% | $191 | $2,113 | 5,857 |
| Feb | 43% | $194 | $2,324 | 5,900 |
| Mar | 54% | $178 | $3,023 | 5,088 |
| Apr | 47% | $183 | $2,505 | 4,974 |
| May | 46% | $185 | $2,585 | 4,503 |
| Jun | 50% | $201 | $3,088 | 4,607 |
| Jul | 53% | $197 | $3,318 | 5,602 |
| Aug | 45% | $185 | $2,579 | 5,558 |
| Sep | 41% | $182 | $2,182 | 5,507 |
| Oct | 47% | $196 | $2,807 | 5,123 |
| Nov | 42% | $200 | $2,459 | 5,393 |
| Dec | 48% | $222 | $3,251 | 5,759 |
San Antonio shows a clear two-peak seasonal structure. The strongest revenue month historically is July, averaging $3,318 in gross revenue with 52.5% occupancy and a $197 ADR. The second peak is December, averaging $3,251 in revenue with 48% occupancy and the highest ADR of any month at $222, driven by holiday travel and the city’s River Walk lighting festival.
June is the third-strongest month at $3,088 average revenue and 50% occupancy, rounding out a June-July summer window as the most reliable high season. October also performs well at $2,807 average revenue and $196 ADR, benefiting from fall conference season and cooler weather.
The weakest stretch runs January through February. January averages $2,113 in revenue at 37.5% occupancy, and February follows at a similar level. ADR does not drop as steeply as occupancy in those months (January ADR still averages $191), meaning demand softens more than pricing does. Operators who flex minimum stay requirements and lower prices in January-February generally maintain better occupancy than those who hold firm on rates.
Spring (March-May) is moderately strong. March is notably the highest-occupancy month in the data at 54%, driven by spring break and Fiesta San Antonio in late April, producing an average $3,023 in revenue.
Revenue Breakdown
| Metric | 25th Pctile | Median | 75th Pctile | 90th Pctile |
|---|---|---|---|---|
| Revenue/mo | $766 | $1,717 | $3,143 | $4,994 |
| ADR | $124 | $188 | $260 | $371 |
| Occupancy | 18% | 36% | 55% | 73% |
Revenue distribution across San Antonio STR listings shows significant spread between typical and top performers. In the most recent data (February 2026), monthly gross revenue by percentile breaks down as follows: the 25th percentile earned $766, the median (50th percentile) earned $1,717, the 75th percentile earned $3,143, and the 90th percentile earned $4,994.
The gap between the median and the 90th percentile is $3,277 per month, nearly 3x the median. This spread reflects the difference between an average listing and a professionally managed, well-positioned property with strong reviews, strategic pricing, and optimized photography.
For context, 2025 full-year averages show $2,791 per month market-wide. ADR averaged $200 across all of 2025, and occupancy averaged 45.7%. The properties earning at or above the 75th percentile consistently combine higher ADR (driven by quality and positioning) with occupancy rates that stay competitive, rather than trading one for the other.
Investment Analysis
Revenue Trend
RevPAR & ADR Trend
| Date | Revenue | RevPAR | ADR |
|---|---|---|---|
| Mar 2024 | $2,877 | $93 | $171 |
| Apr 2024 | $2,408 | $80 | $178 |
| May 2024 | $2,592 | $84 | $175 |
| Jun 2024 | $2,892 | $96 | $190 |
| Jul 2024 | $3,167 | $102 | $185 |
| Aug 2024 | $2,552 | $82 | $176 |
| Sep 2024 | $2,114 | $71 | $170 |
| Oct 2024 | $2,650 | $86 | $177 |
| Nov 2024 | $2,200 | $73 | $181 |
| Dec 2024 | $2,989 | $96 | $196 |
| Jan 2025 | $2,002 | $65 | $169 |
| Feb 2025 | $2,338 | $84 | $171 |
| Mar 2025 | $3,169 | $102 | $185 |
| Apr 2025 | $2,603 | $87 | $188 |
| May 2025 | $2,578 | $83 | $195 |
| Jun 2025 | $3,283 | $109 | $211 |
| Jul 2025 | $3,469 | $112 | $208 |
| Aug 2025 | $2,606 | $84 | $195 |
| Sep 2025 | $2,251 | $75 | $193 |
| Oct 2025 | $2,964 | $96 | $216 |
| Nov 2025 | $2,718 | $91 | $218 |
| Dec 2025 | $3,513 | $113 | $249 |
| Jan 2026 | $2,224 | $72 | $213 |
| Feb 2026 | $2,310 | $83 | $217 |
Occupancy vs Supply
| Date | Occupancy | Active Listings |
|---|---|---|
| Mar 2024 | 53% | 4,083 |
| Jun 2024 | 50% | 2,893 |
| Sep 2024 | 43% | 4,976 |
| Dec 2024 | 50% | 5,767 |
| Mar 2025 | 55% | 6,092 |
| Jun 2025 | 50% | 6,320 |
| Sep 2025 | 39% | 6,037 |
| Dec 2025 | 46% | 5,751 |
San Antonio’s median sale price of $275,166 and typical home value of $245,251 position it as one of the more affordable entry points for STR investment among major Texas markets. The for-sale inventory of 7,450 homes gives buyers reasonable selection, and a sale-to-list ratio of 0.982 suggests modest negotiating room below asking price. At 67 median days to pending, it is not a frenzied market, allowing time for due diligence.
At the 2025 average of $2,791 per month in gross revenue, a property at the median sale price ($275,166) produces a gross annual revenue of approximately $33,492, a gross yield around 12.2% before expenses. Top-quartile performers (p75) averaged $3,143 per month in the most recent data, and the 90th percentile averaged $4,994, showing meaningful upside for well-located, well-managed properties.
The primary risk factors are supply growth and regulatory exposure. The market added roughly 1,400 net new listings between 2024 and 2025. Type 2 permits (non-owner-occupied) face density restrictions capping STRs at 12.5% of properties per block face, which can limit investor concentration in popular neighborhoods. Budget for the 16.75% hotel occupancy tax remittance when projecting net income.
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| Date | Typical Home Value |
|---|---|
| Mar 2024 | $262,078 |
| Dec 2024 | $257,373 |
| Sep 2025 | $250,521 |
Booking Insights
San Antonio STR guests book with relatively short lead times. The market average booking window is 26.8 days in advance, with a median of 16 days. The median of 16 days means half of all bookings come in within roughly two weeks of the stay, which has direct implications for pricing strategy.
Operators who lock in pricing too far in advance and do not adjust as the check-in date approaches leave money on the table in peak periods and risk empty calendars in slow periods. A dynamic pricing approach that tightens restrictions and raises rates as a peak date fills up, then opens availability and discounts 10-14 days out for slower periods, fits the actual booking behavior of San Antonio guests.
Average length of stay is 6.7 nights, but the median is only 3 nights. That divergence means a small number of long-term bookings (7+ nights) pull the average up, while most guests stay 2-4 nights. Setting a 2-night minimum is generally appropriate for this market; a 3-night minimum in peak periods (July, December, March) can increase revenue without meaningfully reducing bookings.
Short-Term Rental Regulations
San Antonio requires a Short-Term Rental permit for all STR operations, and the permit structure distinguishes between two property types with different rules.
Type 1 STRs are owner-occupied primary residences. There are no density limits on Type 1 permits, making them the more straightforward path for hosts who live in their property part of the year.
Type 2 STRs are non-owner-occupied properties, which covers the typical investor scenario. Type 2 permits are subject to a density restriction: STRs cannot exceed 12.5% of properties on a given block face. In practice, this means some high-demand neighborhoods may already be at or near capacity for new Type 2 permits. Verify current availability at the block level before purchasing a property specifically for STR use.
All STR operators must collect and remit hotel occupancy taxes totaling 16.75%, broken down as 6% state, 9% city, and 1.75% county. Most platforms (Airbnb, Vrbo) collect and remit state and some local taxes automatically, but operators should confirm exactly what is being remitted versus what remains their responsibility.
Additional requirements include liability insurance with a minimum of $500,000 per occurrence, working smoke detectors, and fire extinguishers on the property. Permit renewals and any changes to occupancy or property configuration typically require updated documentation.
Market Comparison
San Antonio occupancy rates run below many coastal and mountain resort markets, which is expected for an urban destination. The 2025 market-wide average of 45.7% occupancy compares to higher figures in markets like Gatlinburg or coastal Florida, but San Antonio offsets this with lower property acquisition costs. A $275,000 entry price point is substantially below what comparable STR-legal properties cost in most coastal markets.
ADR in San Antonio ($200 average for 2025) is in line with mid-tier urban markets and below top-tier destination cities. The market’s strength is its volume and consistency: 37.6 million annual visitors create a broad, recurring demand base rather than a narrow peak window. Markets reliant on a single season or single event carry more revenue concentration risk.
The 12.2% gross yield estimate for a median-priced property at 2025 average revenue exceeds what most long-term rental markets in Texas produce at current price-to-rent ratios, though the comparison should account for STR operating costs running 30-50% of gross revenue versus lower long-term rental expense ratios.
Frequently Asked Questions About San Antonio, Texas
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