Rent at $1,100 for an old 1970s 1-bed is high. I think that $950 is more like it. I know someone who pays $950.
Rent will come down when all the for-sale units (including all the condo conversion units) in Fashion/Mission Valley hit the market. I’m willing to bet that rent will be down in the next 5 years, not up. People of working age are moving out of SD and thousands of unit will hit the rental market.
I think that prices for a 1-bd unit will settle at $90k in an old building and $125k in a newer building. Don’t pay more, rent and watch the market. If you buy now, you can easily loose your down-payment and more.
