A recent report sheds light on rental prices in San Diego County, highlighting its status as one of the nation’s priciest regions. According to Zumper, a rental platform, San Diego ranks 8th among the most expensive cities to rent in the United States.
The high cost of living in San Diego has been a recurring issue, with residents needing incomes well above federal poverty guidelines to sustain themselves.
Recent data reveals that many San Diegans are considering relocation due to the steep cost of living, including housing expenses. In fact, in 2022, San Diego County experienced a population decline for the first time in ten years.
Breaking down the rental market further, Crystal Chen from Zumper explains that within the San Diego metro area, the city itself ranks as the fourth most expensive.
In February, the average rent for a one-bedroom apartment in San Diego was $2,300, significantly higher than the state median and nearly $1,000 more than the national average.
The report highlights the top three most expensive cities within the San Diego metro area: Coronado, Encinitas, and Carlsbad. Conversely, it also identifies the three most affordable places to rent: El Cajon, La Mesa, and a cluster consisting of Chula Vista, Escondido, and Imperial Beach.
Interestingly, National City has seen the most significant increase in rental prices since the previous year. However, there’s some relief for renters in the City of San Diego, where rents have been decreasing for the past five months.
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Additionally, the Census Bureau’s data indicates a net outflow of almost 31,000 people from the county last year, potentially alleviating some of the population pressure and housing demand.
Overall, while San Diego remains a costly rental market, there are signs of relief on the horizon, with new apartments slated to become available and some areas experiencing rent decreases.
