[quote=Eugene]San Diego County has a 6.7% overall vacancy rate. There are many census tracts with vacancy rates above 20%. In the census tract 183 (Oceanside waterfront), the vacancy rate is staggering 53%. In the census tract 210 (Borrego Springs), it’s 45%.
On the other hand, the vacancy rate in University City south of the railroad is 3.7%.[/quote]
Thanks for the info, Eugene. This is good to know. I meant to state, “vacancy rate,” not “occupancy rate” in my post below, lol.
There has been recent discussion on this board about buying rentals outside of the county to increase cash flow.
I’m not sure that this is such great advice given the wildly fluctuating vacancy rates in areas which don’t have a captive and often more affluent rental audience as SD County does. In addition, a property manager often has to be paid 6% to 12% of the rental income if you, as a landlord cannot manage the unit/SFR from afar.
I think most areas of SD County win a lot of “grass is greener” arguments in this respect in spite of a possibly higher initial purchase price for the potential rental property.
Certainly, in Arlington, VA, when all these vacant units end up absorbed into the rental market, this will drive the rents down there for years to come.
