Rents again rose in January in San Diego, continuing the steep upward trend for residential units, according to a new report.
Researchers at ApartmentList.com said prices have risen nearly 19% since last year, outpacing increases in the state overall, at 17.8%.
The year began with a 0.4% increase in January, according to the data, with median rents in San Diego at $1,855 for one-bedroom apartments and $2,459 for two-bedrooms.
Rents rose even more starkly in other parts of the county though, with multiple cities seeing prices jump by more than 20%, including:
- Vista – 23.7%, with a median of $2,120 for one-bedrooms and $2,400 for two.
- Escondido – 22.1%, with a median of $1,870 for one-bedrooms and $2,240 for two.
- San Marcos – 21.4%, with a median of $2,080 for one-bedrooms and $2,330 for two.
- La Mesa – 21.4%, with a median of $1,910 for one-bedrooms and $2,370 for two.
- Carlsbad – 21.1%, with a median of $2,260 for one-bedrooms and $2,880 for two.
As far month-to-month increases in January, Vista, Carlsbad, La Mesa and Chula Vista saw bigger jumps in prices than San Diego, with Vista logging a 1.8% uptick. Only Oceanside dropped, by 0.7%.
Comparing local median two-bedroom prices to the state’s most expensive city, San Francisco rents stand at $2,681.
Nationally, rent for two-bedroom apartments is only $1,285 – slightly more than half of the city of San Diego median.
In other big cities, annual rent growth exceeded 25%, including Phoenix, where prices rose by 27.9%. Oakland saw the slowest growth in California, at 0.5%.
According to ApartmentList.com, apartment owners reversed 2020 losses due to the pandemic, with gains throughout 2021, as prices rose steadily during the year, most sharply in July.