The average San Diego apartment rent surpassed $2,000 for the first time in June as occupancy exceeded 96 percent.
That was the finding of a new report by Axiometrics, a Dallas-based company that monitors the apartment and student housing markets for developers and investors.
“San Diego continues its run as one of the strongest apartment markets in the nation,” said Jay Denton, vice president of analytics for Axiometrics. “However, a warning sign may be in place, since job growth has declined in April and May.”
Average rent in San Diego metropolitan area was $2,005 per month in June, compared to $1,986 a year ago and $1,911 two years ago.
Occupancy in June was 96.3 percent, a figure that has held steady since 2016, according to Axiometrics.
The average rent in San Diego in June was nearly $700 more than the national average.