This is based on mostly large complexes in the San Diego City area. It contain some central east counties like La Mesa, Santee, etc. Rents have been increasing but in the last 6-12 months vacancy rates have been increasing as well and 1 bd room and studio rental rates are starting to lag 2 and 3 bedroom rental rate increases. While rents will probably still go up, there’s a case to be made that they are close to topping out.[/quote]
I think it’s all depend on the vacancy rate. If the vacancy rate still hover below 5%, rent can still going up at a faster pace than normal market. Jobs growth is a blistering pace in San Diego right now and there are very limited number of new housing units coming to the market. I expect the rent continue to go up at a faster pace than normal in the near future.
