Apartments in Balboa Park San Diego

San Diego:
May Rent Report

Welcome to the May 2024 San Diego Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the San Diego rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in San Diego and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of San Diego average rent prices in the chart below.

May Prices: San Diego vs. Surrounding Areas

Rent Prices in San Diego and Surrounding Areas

Rent prices have decreased in San Diego over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the San Diego suburbs increased last month. On the other hand, 4 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Chula Vista, CA, El Cajon, CA, Escondido, CA .

• Rent decreased in La Mesa, CA, Imperial Beach, CA, Coronado, CA, San Marcos, CA.

• 2 suburbs are currently priced higher than the city of San Diego.

• 5 suburbs are currently priced lower than the city of San Diego.

Data set for San Diego and suburbs

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.