San Antonio Short-Term Rental Market Data Analysis 2026

The San Antonio short-term rental market has carved out a solid position in Texas’s vacation rental landscape. With 8,597 active listings and annual tourism reaching 37.6 million visitors, this market offers data-driven insights worth examining closely.

Let me walk you through what the numbers are actually telling us.

Current Market Performance: The Foundation

According to StaySTRA’s proprietary data, San Antonio hosts maintain an average daily rate of $178.42. That’s a respectable figure, sitting comfortably in the middle tier of Texas markets.

The occupancy story is where things get interesting. The 12-month average occupancy rate hovers around 60%, but don’t let that single number fool you. Peak summer months push occupancy to 75%, while January dips to 44.4%. Think of it like classroom attendance—the overall average masks some very real seasonal swings.

Revenue per property averages $44,674 gross annually. After operating expenses, net operating income typically lands between $22,000 and $31,000. That translates to projected ROI in the 8-12% range, which is solid if unspectacular.

RevPAR (revenue per available room) sits at $106.05. This metric combines both your nightly rate and occupancy, giving you a cleaner picture of actual earning power than either number alone.

A Decade of Growth: From Niche to Mainstream

Here’s where the data really starts painting a picture. In Q2 2016, San Antonio had 1,082 short-term rental listings. Fast forward to Q2 2025, and that number reached 8,597.

That’s 116% growth over a decade.

Now, don’t let those percentages intimidate you. What this tells us is that San Antonio’s STR market evolved from an emerging opportunity to a mature, established market. The rapid expansion phase has largely played out. You’re looking at a market that’s found its footing rather than one still figuring itself out.

Seasonal Patterns: When the Numbers Spike

Tourism drives everything in this market, and the calendar matters more than you might think.

Fiesta San Antonio, running April 16-26 in 2026, brings 2.5 million guests to town. That’s not a typo. The 10-day celebration creates the kind of demand spike that shows up clearly in the data. According to StaySTRA data, April 2025 recorded the highest ADR of the trailing 12 months at $187.59.

July occupancy peaked at 75%, driven by summer family travel and the Texas heat sending folks to the River Walk for relief.

Conversely, January occupancy dropped to 44.4% with ADR at its lowest. Winter months in San Antonio simply don’t generate the same visitor volume.

The lesson? If you’re analyzing potential revenue, don’t just look at annual averages. Dig into monthly performance data to understand the actual cash flow rhythm.

Property Types: Three Bedrooms Lead the Pack

Let’s break down what’s actually operating in this market:

• 3-bedroom properties: 1,985 (23% of market)
• 1-bedroom properties: 1,396 (16%)
• 2-bedroom properties: 1,279 (15%)
• 4-bedroom properties: 1,065 (12%)
• 5+ bedroom properties: 421 (5%)
• Studios: 130 (2%)

The dominance of 3-bedroom homes tells us something important about demand. San Antonio attracts families and small groups—people visiting for Fiesta, weddings, family reunions, and multi-day tourism stays.

Studios and 1-bedrooms still have their place, particularly near downtown and the River Walk. But the data clearly shows that families, not solo business travelers, drive the bulk of this market.

Regulatory Landscape: Higher Barriers, Stricter Enforcement

In June 2024, San Antonio City Council approved significant changes to STR regulations. These matter for anyone considering entering this market.

Permit fees tripled for Type 1 STRs (owner-occupied properties) from $100 to $300. Type 2 STRs (non-owner-occupied) now cost $450 annually. Permits remain valid for three years.

More significantly, Type 2 properties face density restrictions limiting them to 12.5% of units per block face. This caps how concentrated non-owner-occupied STRs can become in residential neighborhoods.

Operational requirements also tightened. You must maintain liability insurance with minimum limits of $500,000 per occurrence. A 24/7 local contact is mandatory. Properties need working smoke and carbon monoxide detectors, fire extinguishers, and properly marked evacuation routes.

The city explicitly prohibits parties and events at STRs.

Operating without a permit now carries a minimum fine of $500 per day. The ordinance created new civil enforcement mechanisms, including administrative hearings and permit revocations lasting up to three years for repeat violations.

What does this mean practically? San Antonio is professionalizing its STR market. The barriers to entry have risen, but so has the legitimacy of operating as a compliant host.

Tax Obligations: Know Your Numbers

San Antonio imposes a 9% hotel occupancy tax, split between a 7% general occupancy tax and 2% for Convention Center expansion. Bexar County adds another 1.75%.

Your total tax obligation: 10.75% of gross rental revenue.

Most major platforms handle collection and remittance automatically. But you’re ultimately responsible for compliance, so verify your platform is properly registered and remitting on your behalf.

Housing Market Context: Entry Points Shifting

StaySTRA data shows typical home values at $245,985, down 3.2% year-over-year. Median sale prices sit at $278,966.

Declining home values create interesting math for potential investors. Lower acquisition costs can improve your ROI projections, assuming rental demand holds steady. With 8,082 homes currently for sale, inventory is available.

But—and this is important—falling home values also signal broader market cooling. Don’t just look at the purchase price. Consider whether rental demand will support your projected occupancy and rates.

How San Antonio Compares to Other Texas Markets

Context matters when evaluating any market. Let’s see where San Antonio sits relative to other major Texas STR markets.

Austin maintains higher ADRs but also faces stiffer competition and more restrictive regulations. Houston hosts 15,662 active STRs with similar ADR ($177.36) but lower occupancy (53.3%). Dallas shows comparable performance at $176.14 ADR with 57.1% occupancy. Fort Worth runs slightly lower on both metrics.

San Antonio’s advantage lies in tourism consistency. The River Walk, the Alamo, and annual events like Fiesta create predictable demand spikes. Houston and Dallas rely more heavily on business travel, which can be less stable.

What the Data Actually Tells Investors

If you’re considering San Antonio as an STR investment, here’s what you need to internalize from these numbers:

The market is mature, not emerging. With 8,597 active listings, you’re entering an established competitive environment. That’s not necessarily bad—it means proven demand—but it eliminates the “get in early” advantage.

Seasonality is real and significant. Your annual projections need to account for occupancy swings from 44% to 75%. Cash flow planning matters more in seasonal markets than in steady year-round destinations.

Regulations are tightening, not loosening. The 2024 ordinance changes signal the city’s direction. Compliance costs will likely increase over time, not decrease. Factor this into your operating expense projections.

Three-bedroom homes dominate for a reason. Follow the data. The market is telling you what guests want.

Tourism infrastructure is strong. San Antonio welcomed 35.6 million visitors in 2023. That foundation supports continued STR demand even as the market matures.

The Bottom Line

San Antonio offers a solid, data-supported short-term rental market for investors who understand what they’re getting into. You’re not looking at explosive growth or outsized returns. You’re looking at steady 8-12% ROI in a mature market with predictable seasonal patterns and clear regulatory requirements.

The numbers don’t lie, but they don’t tell you everything either. Dive into neighborhood-specific data, understand your target guest demographic, and build realistic occupancy projections that account for seasonal swings.

Run the Numbers for San Antonio

Want to see what a specific San Antonio property could earn? Our free San Antonio Airbnb Calculator pulls real market data so you can run the projections yourself.

For a deeper look at San Antonio including active rental counts, average daily rates, and neighborhood-level data, check out our San Antonio market profile.

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Disclaimer: We do our best to keep our data and analysis accurate and current, but markets move fast and we are only human. Always verify current figures and consult with qualified professionals before making investment decisions.