While rents have remained steady in the city of San Diego throughout the past year, in other parts of the region costs are climbing.
According to ApartmentList.com, by last month, rents rose in eight of the largest 10 cities in the region, despite the effects of the pandemic. For instance:
- Encinitas has seen the fastest growth in the area, with a year-over-year increase of 3.5%. The median price for a two-bedroom in the community costs $2,491, while one-bedrooms go for $1,920.
- Carlsbad has the most expensive rents of the largest cities in the San Diego metro, with a two-bedroom median price of $2,542. Rents there were up 0.1% over the past month and 3.3% over the past year.
San Diego rents have increased 0.1% over the past month, but have been relatively flat in comparison to the same time last year.
Currently, median rents in San Diego stand at $1,574 for a one-bedroom apartment and $2,042 for a two-bedroom.
San Diego’s year-over-year rent growth, though, lags the state average of 0.1%, as well as the national average of 0.3%.
On the other end of the spectrum, National City has the least expensive rents in the region, with a two-bedroom median price of $1,324.
The city also has seen rents fall by 2.9% over the past year, the biggest drop in the area.
The national average price for a two-bedroom apartment is $1,195.
Cities that post higher prices for a two bedroom than San Diego include San Francisco, San Jose and New York.
Another apartment search service, Zumper.com, named San Diego the nation’s eighth most expensive city in which to rent. San Francisco topped the Zumper list as well.
– Staff reports