Rent Hikes in San Diego to Cool This Year: Zillow - NBC 7 San Diego

Rent Hikes in San Diego to Cool This Year: Zillow

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    Rent Hikes in San Diego to Cool This Year: Zillow
    NBC 7 San Diego

    San Diego’s rent may not be as daunting this year.

    According to a study released Friday by Zillow, rent is expected to only grow by 1.4 percent this year, down from a 4.1-percent increase last year.

    Zillow lists the rent index for San Diego at $2,348, compared to $2,316 in 2015.

    Other cities in California didn’t get off so easy. San Francisco is predicted to see a nearly 6-percent rent increase and rent in its Bay Area counterpart, San Jose, is expected to go up by a whopping 7.8 percent.

    In Los Angeles, rent is expected to increase by a modest 2.8 percent.

    While the rent increase is cooling, home values in San Diego ($499,900) are still more than double the average for the country ($183,500).

    Zillow said on its site that apartment and housing development projects nationwide are helping meet the rental demand, which has contributed to the slowing.