The Southern California Rental Housing Association released its apartment rent and vacancy survey this past month. The publication reported that the City of San Diego apartment vacancy rate was at 4.3%, which is up from the same time in 2018, when the rate was 2.9%. It should be noted that apartment vacancy rates are seasonal tend to be lower in the spring and higher going into the fall. The average City of San Diego one-bedroom apartment rents were reported at $1,292, two-bedroom units at $1,850, and three-bedroom units at $2,407 per month. The report noted that apartment occupancy was more evenly distributed county wide relative to the past, as all apartment property owners are benefitting from this period of very strong demand and limited market inventory.
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