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San Diego Apartment Market Is Getting Stronger

San Diego Apartment Market

Digested from “San Diego Apartments Heat Up” in Axiometrics (6/20/2016) by McCleskey, Stephanie

May ushered in great news for the San Diego apartment market: The average rent in the metro area has reached a new high of $1,915. That’s $123 more than last year’s May average and effective rent growth of 6.8 percent.

Also, the vacancy rate in San Diego is at rock bottom. The occupancy rate in San Diego hit a high of 96.2 percent, the highest it’s been since August 2014.

Within the San Diego metro area submarket, Vista, La Jolla/University City and National City/Chula Vista saw the highest rate increases.

San Diego saw the seventh-highest rent increase among major metro markets.

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