Great data point, davelj. You have a very good memory. I’m envious…
Here’s the last update from the Tenants Legal Center: “According to a recent MarketPointe Realty Advisors survey, rents in San Diego County increased by 3.81% in the last year (September to September) Our rents are 2.47% higher in September than they were in March 2006. The apartment vacancy rate has dropped to 1.84% from 3% only six months ago. This survey looks at complexes of 25 units or more.” – Tenants Legal Center
An article in the U-T Friday explained that the higher rents are caused by the record low vacancy rate, which is caused by the loss of 9,500 apartment units that were converted to condos in the last 3 years. Although some are now offered as rentals, the new owners are charging more money for the condos than they charged for the apartments.
