More Apartments in San Diego, But More Expensive: Survey - NBC 7 San Diego

More Apartments in San Diego, But More Expensive: Survey

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    NEWSLETTERS

    Chargers Make Unexpected Kicking Change
    Friedman Realty Group Inc.

    Apartments are easier to find in San Diego County than a year ago, but be prepared to drop a lot more money.

    Here's the good news: The countywide vacancy rate stands at 4.1 percent, up from 2.7 percent last year and 2.3 percent last fall, according to the San Diego County Apartment Association (SDCAA)’s spring survey.

    The bad news: The average rent rose to $1,514, compared to $1,260 a year ago.

    SDCAA officials suspect the increased vacancy rate has come from the development of a number of large apartment complexes, namely those in Mission Valley, San Marcos, Kearny Mesa and downtown.

    South Bay saw the highest vacancy rate, at 5.1 percent, officials added.

    Officials attributed the rent increase to continued “pent-up demand” for homes in the San Diego market.

    The average rent for a studio is $974, $1,301 for a one-bedroom apartment, $1,609 for a two-bedroom unit and $1,943 for apartments or houses with three or more bedrooms.