The Census link is very bullish. 0.9% growth in SD County and 1.5% growth in SD City in just one year.
Desired household growth is probably even faster due to population aging.
Meanwhile what is the growth rate of SD City housing stock? I’d guess in OB proper something like 0.1% a year due to infill and tear downs. But normal rental supply is falling due to AirBNB, including the house I rented on a normal lease when I moved here a long time ago, and switched to AirBNB 2 years ago. The number of properties with room for and zoned for a back unit is dwindling each year too.
The Dylan apartment complex did add a lot of supply in Loma Portal as it replaced a former school site and is pretty big. All of it consists of smaller and high priced units however. Midway and Loma Portal seem to have a few more underdeveloped lots that could be turned into apartment complexes. The old hospital on Wing St is being turned into a language school for visiting students.