SAN DIEGO — Rental prices in the San Diego area are among the most expensive in the U.S. And the increase in cost has far exceeded those on the West Coast since the start of the COVID-19 pandemic, according to a Zumper report released Tuesday. That increase is also being felt in the larger metropolitan area, as the rate for a room in Chula Vista increased nearly 40% from last year, while room prices in Oceanside rose nearly 30% in the same period. Jeff Andrews, senior market analyst at Zumper, who wrote the report, said that San Diego's rental patterns are more like cities in the center of the country than cities on the west coast, and cited two reasons why.
The first occurred because of the pandemic, as “transplant cities such as New York City, Los Angeles or San Francisco saw workers leave for periods of time or permanently, in some cases, as work-per-home configurations became commonplace. Andrews views San Diego differently, as many in the city were left waiting for the pandemic to pass, keeping the market relatively tight for renters. The other reason is due to the high cost of real estate, which effectively “traps tenants” in the market, he said. The average apartment size in San Diego, California, is 875 square feet, but this number varies greatly depending on the type of unit, with cheap and luxury alternatives for both homes and apartments.
MacKenzie Elmer explains it best in a story about why costs have increased and what some in the region think San Diego should do to ease the growing burden of water costs for the local taxpayer. However, as in any city, the cost of living in San Diego will vary greatly depending on your lifestyle and housing circumstances. The cost of buying a single-family home in San Diego is beyond Pam Anderson's reach, but renting one isn't easy either. This week Keatts documented the difficult decision tens of thousands of San Diegans make to move out of the county and return to work.
With its idyllic beaches, family reputation and mild, sunny climate, it should come as no surprise that San Diego is quite a popular destination for prospective homeowners. To give you a better idea of how much of this salary you'll need to spend on specific living expenses, we've put together the following guide to living costs in San Diego (which also gives you an idea of the cost of living in California). Get ready for the week with the week's top business news from San Diego and California, in your inbox on Monday mornings. To help start the research process, we've put together the following guide to housing and living costs in San Diego.
An Attom study conducted earlier this year revealed that San Diego County would have one of the lowest investment returns for homeowners because the purchase price is much higher than in other parts of the country, particularly in the south. While San Diego is the 14th most expensive city in the United States, the City of Los Angeles easily surpasses it in eighth place. If you've already saved up a deposit to buy a home in San Diego, the next step is to contact a local, full-service realtor.