Today, we want to briefly discuss the San Diego rental market and what your best options are as rates begin to skyrocket.
On average, one-bedroom apartments within 10 miles of San Diego are going for about $1,582 a month and two-bedroom apartments are averaging about $2,015 a month. This is just San Diego as a whole – if you look at the coastal communities and more prime neighborhoods, the rents are even higher!
Let’s take a look at some of the prime neighborhoods in our area:
- La Jolla is one of the highest priced neighborhoods here in San Diego at $3,362/mo.
- Little Italy in downtown San Diego is at $2,471/mo.
- Pacific Beach is around $2,109/mo.
- Mission Valley is at $2,068/mo. (2 bedrooms)
- Bay Park is at $1,998 for 2-bedroom rentals
- East Village downtown is at $2,118
- Delmar Heights is $3,337 just to rent
Looking at these high rent numbers, we can find you a 1 to 2 bedroom home or condo for the same price or cheaper than you can actually own. If you’re renting, you really don’t have many options. Rental prices in San Diego continued to go up even when the housing market wasn’t doing so hot, so there’s no reason to expect that to change anytime soon.
Additionally, when you’re renting you don’t have any clarity on how much you will have to pay month to month; if your landlord calls you up and tells you prices have risen, tough luck.
Now is a great time to own in San Diego and we would love to help you find an affordable property you can own.