San Antonio Economic Indicators

San Antonio payrolls and wages grew in June. Wage growth exceeded that of both the state and the nation, while the unemployment rate declined. Sales tax revenue grew. Supply of homes for sale declined in June, accompanied by rising home prices.

Business-cycle index

The San Antonio Business-Cycle Index, a gauge of economic conditions in the metro area, increased an annualized 5.2 percent in June (Chart 1).

Labor market

Employment growth continues

San Antonio payrolls rose in June, growing an annualized 1.1 percent. San Antonio payrolls grew 2.2 percent year to date. Payrolls grew 3.7 percent (10,800 jobs) from March through June, led by gains in education and health services (8.1 percent, or 3,600 jobs) and trade, transportation and utilities (6.6 percent, or 3,400 jobs) (Chart 2). The federal government lost jobs in San Antonio. Year over year, total nonfarm employment growth in San Antonio was 1.6 percent, similar to Texas (1.6 percent) and faster than the U.S. (1.2 percent).

Unemployment rate declines

The San Antonio unemployment rate declined to 3.5 percent in June (Chart 3). The jobless rate is higher in Texas at 4.0 percent and the U.S. at 4.1 percent.

Wages rise

The average nominal hourly wage in San Antonio rose to $31.79 in June from May’s $31.71 (Chart 4). Wages are seasonally adjusted and smoothed with a three-month moving average. Year over year, wages grew 8.6 percent in June, while wages in Texas rose 4.8 percent and increased 3.8 percent in the nation. Earnings in San Antonio continue to be lower than both the state ($34.44) and nation ($36.20).

Consumer spending

Sales tax receipts are a proxy for consumer spending patterns. Sales tax revenue, smoothed and adjusted for inflation, for both San Antonio and Texas increased 5.0 percent in June 2025 year over year (Chart 5).

Housing market

The supply of existing homes for sale in San Antonio declined to 5.6 months in June, slightly greater than the state’s 5.4 months of supply (Chart 6). Since October 2012, inventories have remained below six months, which is generally considered a balanced housing market.

Median home prices grew 4.6 percent in June and were up 5.4 percent year over year. Meanwhile, home prices in Texas grew 1.6 percent in June and were up 0.7 percent year over year.