The USC Lusk Center has a chart showing San Diego city rents rising from about $900 to 2003 to $1457 in 2015. That is a 62% increase over 12 years. Pretty good when you consider that period also included the longest and deepest recession since the Great Depression!
Excerpts from the Lusk center’s San Diego rent overview:
San Diego County has had one of the better performing economies in Southern California in recent years. The unemployment rate decreased to 5.2% last year, the lowest since 2007, as County wage and salary jobs grew by a solid 3.0%. …
Notably, the Manufacturing sector added jobs at more than double the statewide pace over the past year, a sign of that sector’s continued strength in the region. With sound economic fundamentals, San Diego County’s economy will expand over the next two years and the housing market will heat up with further increases in prices, sales, and rents. … the vacancy rate edged up from 4.6% in 2014 to 4.9%
The City of San Diego experienced the fastest growth in rental rates at 5.8% in 2015, slightly ahead of North San Diego County (5.1%) and well ahead of Chula Vista/National City (1.6%).
The lowest average vacancy rate was in the City of San Diego at 4.9%, followed by Chula Vista-National City at 5.8%, and North San Diego County at 6.5%.
