YELLOW tier · TX
San Antonio
San Antonio-New Braunfels
Thesis
YELLOW market: TX state preemption keeps STRs legal, but Type 2 (non-owner-occupied) is capped at 12.5% per block face — many high-demand block faces are at cap. Wider rent-to-ADR spread than Austin; Fiesta and JBSA military MTR are the alpha.
Regulatory note
STRs legal city-wide and by-right in residential zones, but Type 2 capped at 12.5%/blockface. Many downtown/Southtown/King William blocks at cap — Board of Adjustment exception required. Permit + HOT compliance mandatory; enforcement ramped 2024.
Coming soon
San Antonio deep-dive: full report ships with your first pack.
Permitted zones, banned zones, HOA-permissive buildings, friendly PMs, ADR/LTR benchmarks, seasonality, and red flags — all delivered alongside your 50 ranked leads.