Rents in San Diego are rising at the fastest rates in decades causing many people, like Yoselyn Torres, to not be able to afford to live on their own.
“I don't understand how people, especially single parents or families, can [do it,]” said Torres.
Torres is a single parent herself. Her daughter Carolina is 19. Currently, they both live with Torres's parents.
Without a high rent payment, Torres says she can make sure her daughter is well taken care of.
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“I can help her continue her education and me continue to pay mine and still pay for food, pay for the dog's vet bill, and all those things that you need,” said Torres.
According to a study from rent.com, the average studio apartment in San Diego is $2,417, up 23% from last year. A one-bedroom apartment is averaging $2,775, up 21%.
So what’s behind the sudden spike?
“The Innovation hubs in San Diego keep improving,” said Andrew Vargas, Southern California realtor. [San Diego] is top-ranked ranking number six now for 2021. We will note the new statistic in 2022 soon. But we see LA and Orange County falling while San Diego keeps growing upward. Because of that, more jobs, and more migration coming into San Diego are causing rents to go up.”
Unfortunately for renters, he says he doesn’t see things getting better anytime soon.
“Rent will always continue going up,” said Vargas. “While the trajectory of it sometimes softens a bit, overall rent continues to rise while home prices can fluctuate.”
As for Torres, she plans to stick it out.
“It's so hard to leave because my family is here and home is where your heart is,” said Torres.
Without a question, the right place comes at a price.