In the submarket that I’m keeping an eye on for the last 15 years (Mira Mesa), house rent was low (relative to 1/1 & 2/2 condos) and wasn’t moving very much before last year. 4/3 houses were renting for $3200-3400/month and smaller 4/2 & 3/2 were renting for $2600-2800/month for about 5 years. I just checked Zillow and the big houses are all around $4000-4600/month now. While the smaller houses are renting for $3200-3400. That’s a huge jump. While 1/1 & 2/2 condo rent price haven’t gone up much over the last 2 years. 1/1 are still around $1700/month and 2/2 are still around $2200/month.
The rent gap between big and small houses were around 400-600/month for the last 15 years. However, now, they’re 800-1200/month. Which is quite interesting and might show a shift in who’s moving here.
