San Diego, CA

San Diego rent for one-bedroom apartment down 6 percent to $2,320 a month

Beth Torres

To the relief of many San Diego renters, the red-hot housing market has begun to show signs of cooling over the last month. Median one-bedroom rent in San Diego was $2,320 for the month of June, according to online rental platform Zumper.

This represents a decrease over the previous month of 6 percent. Median two-bedroom rent was $2,910 for the month, also down 6 percent.

How San Diego rent compares to other California cities

Despite the decline in rent prices, this doesn’t mean San Diego rents qualify as affordable. Year-over-year the city has seen a 20.8 percent increase in median rents for one-bedroom units.

Many renters consider moving to less expensive California cities in search of better prices. However, if you’re looking at large metro areas, you’ll have a tough time finding low rent.

San Francisco, San Jose, and Los Angeles all outpace San Diego in rental costs. Median one-bedroom rent is $3,000 per month in San Francisco, $2,570 in San Jose, and $2,360 in Los Angeles.

If you want to stay in California and have flexibility where you live, you could look at relocating to cities where rents have not accelerated as rapidly. While the median one-bedroom monthly rents in these cities are certainly not “cheap,” they are lower than San Diego:

  • Santa Ana, $2,110 a month
  • Oakland, $2,100 a month
  • Anaheim, $1,860 a month
  • Long Beach, $1,710 a month
  • Sacramento, $1,600 a month
  • Fresno, $1,520 a month
  • Bakersfield, $1,060 a month

High competition for San Diego rentals

If you’re able to overcome the sticker shock from San Diego rent prices, you’ll then have to face another challenge—competition from fellow renters. The supply of apartments isn’t enough to meet demand, which means San Diego is one of the most competitive rental markets in California.

According to a study by RentCafe, there are 24 prospective renters for each available San Diego apartment. There are few units available for rent, with existing tenants already occupying approximately 97 percent of rentals.

In addition, the high cost of homes has prompted many would-be buyers to put their homebuying plans on hold. This puts pressure on the rental market as fewer people are making the leap from renters to homeowners.

What are your thoughts on San Diego’s high rents?

Is San Diego’s high cost of living worth it? Would you forgo the mild weather and beaches for lower housing costs? Let us know your thoughts in the comments section. And if you enjoy this content, please follow, and share with others. Many thanks for your support!

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