San Diego Apartments For Rent - Craigslist (2024)

FAQs

Why is rent so high in San Diego? ›

Strong Local Job Growth

A robust job market also fuels rent increases. Between 2010 and 2020, total non-farm employment in San Diego County expanded by over 15% compared to the national growth rate of under 7% over the same period.

Because the average rent in San Diego is $2,303, you'll want to make about $7,676 per month or $92,112 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you'll want to consider additional factors, such as your monthly bills and other expenses.

SDHC, including its nonprofit affiliate, Housing Development Partners (HDP), owns or manages more than 4,100 affordable rental housing units.

San Diego County's vacancy rate climbed to 6.36% in Spring 2024, up from 3.9% in Spring 2023. Within the region, the city of San Diego also experienced a rise in its vacancy rate to 4.22%, compared to 2.64% last year.

According to the recently released study, the most expensive, or as researchers call it, the most "impossibly unaffordable" market was Hong Kong, followed by Sydney, Australia, then Vancouver, and San Jose. San Diego was ranked tenth, just behind San Francisco and Adelaide, Australia.

San Diego ranked No. 1 as the most expensive city in the nation to live, according to a 2023-2024 U.S. News analysis of the 150 largest metropolitan areas in the U.S.

Here's how much income you need to buy a home in San Diego

According to a recent study by Zillow, people looking to buy a home in San Diego need to have an income of at least $273,613. A monthly mortgage payment in San Diego is approximately $5,757 with a 10% down payment.

This means that 8.6% is the maximum rent increase for the next 12-month period. While AB 1482 allows a landlord to increase rents twice per year, the total increase cannot exceed 8.6% for that period. Also, remember that any rent increases 10% or less require a minimum 30-day notice to the tenant.

What is the rent to income ratio in San Diego? ›

Calculations. The majority of property managers and landlords in San Diego require the net monthly income to be 2.5 times the monthly rent.

These trends are reflected at the local level as well, with the Cape Coral-Fort Myers, FL metropolitan area topping the nation in vacancies, averaging 15.3% in 2023. Below is a complete breakdown of rental vacancy rates across the 75 largest U.S. metropolitan statistical areas and all 50 states.

The IE's $579,000 typical house was 25 percent above its expected value in March 2024 — but that was only the No. 45 largest overvaluation of 100 metros tracked nationally. Homes in San Diego, worth $947,000, were 24 percent too high, by this math — the No. 50 overvaluation nationally.

High demand: San Diego's climate, job opportunities, and lifestyle make it a desirable place to live, driving up demand for housing. Cost of construction: The high cost of labor and materials also contributes to the high home prices.

This means that 8.6% is the maximum rent increase for the next 12-month period. While AB 1482 allows a landlord to increase rents twice per year, the total increase cannot exceed 8.6% for that period. Also, remember that any rent increases 10% or less require a minimum 30-day notice to the tenant.

The Role of California's Housing Shortage

This shortage has led to intense competition for available rental units, giving landlords the upper hand in pricing their properties. As demand continues to outstrip supply, rents have naturally inclined upwards.