Look for rents to go up as gas prices, empty houses, and more renters push up rental prices.
If you start to see a lot of flippers and investors buying in Poway, then rents will start going down a few months later, as the flippers and investors start converting empty housing into rental grade or purchase grade properties.
I will say though that I see a lot of pressure in the sub $2k rental market, while there is a lot of softness in the higher than $2k rental market. Still, it’s not like there’s a lot of variation in Poway, so the one you have, while not a large house, still sounds like a decent deal. Large lot sizes are pretty rare in the inner portions of San Diego county, so those will always go at a premium. You gotta go to Ramona or east San Diego county before you can start seeing some softness.
