San Diego Apartment Rents increase again.

San Diego County - For the eighth straight year San Diego Apartment rents have increased.  In a survey of nearly 800 aparment complexes with at least 25 units, the average monthly San Diego apartment rent incresed by 4% over last year and has increased over $400 since the year 2000!

Average San Diego Rent $1387 for an apartment

According to MarketPoint's survey of over 114,000 units, the average rent for a San Diego aparment was $1,387 in Feb 2008.  This survey did NOT look at rents for San Diego Homes or San Diego Condo; which are usually the most desireable types of properties to rent and can be considerablly more expensive.  Typically, San Diego Homes or Condo's rent for between $1.00 to $1.50 per square foot.  So, in most area's renters can find an 1,800 sq/ft home like the one to the left for between $1800 to $2700 ( view San Diego Rentals Here).

While this was a very large survey, I believe that the survey by MarketPoint may paint a much rosier picture then what renters are actually facing in San Diego County...  Especially renters in the coastal cities where there is a high demand for seasonal, vacation, and beach rentals.  Current vacancy rates in San Diego County are about 3.9%.  This is in large part to the slowing of the home purchasing market and the increase in the San Diego Foreclosure Rates.  A review of the Carlsbad Rental Market will show you that a Carlsbad rental can rent for as much as $1000 per week or as high as $15,000 per month, see Carlsbad Rentals Here.

Why has the Rental Market continued to increase?

The simple answer would be that over the last 8 years home prices have drastically increased here in San Diego County and so have any new landlords mortgage payments.  Back in January of 2000 the median single family home price in San Diego County was only $230,000.  The Median Home price for the San Diego County in January of 2008 was $451,500...  In addition, the population has also increased by over 127,000 documented residents.  So the net increase in population plus the drastic increase in home prices (and mortgage payments that these landlords are paying) has been the two largest factors in the rise the cost of rentals here in San Diego County.  Recently, a smaller influence was the loss of almost 2000 homes by the San Diego County fires, but according to the U.S. Census Bureau there were 1,125,827 housing units here in San Diego County so that would have been less then 1 percent of the housing units. 

Rentals in San Diego California

If you would like some more information about rentals in San Diego California, throughout San Diego County,  or would like to book a time to  view North San Diego Rentals please check out these additional resources:

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