Welcome to the December 2023 San Diego Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2023 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.
San Diego rent prices decreased over the last month. From November to December, the city experienced a -4.19% decrease for the price of a one-bedroom apartment. The rent price for a San Diego one-bedroom apartments currently stands at $2,447.0.
When we take a look at the two-bedroom comparison from November to December, San Diego experienced a -4.08% decrease for the price of a two-bedroom apartment. The rent price for a San Diego two-bedroom apartments currently stands at $3,107.0.
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 2 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 Escondido, CA, National City, CA .
Rent decreased in Chula Vista, CA, El Cajon, CA, La Mesa, CA, San Marcos, CA.
1 suburb is currently priced higher than the city of San Diego.
5 suburbs are currently priced lower than the city of San Diego.
Rent growth in San Diego over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, San Diego average rent prices appear to be relatively affordable for local residents.
The price for a San Diego one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about San Diego and surrounding area rent prices, take a look at the complete data set below.
|1 BR December||1 BR M/M % Change||2 BR December||2 BR M/M % Change|
|San Diego, CA||$2,554.0||-2.71%||$3,239.0||-2.79%|
|Chula Vista, CA||$2,436.0||-2.72%||$3,058.0||-1.61%|
|El Cajon, CA||$1,846.0||-2.89%||$2,285.0||-1.81%|
|La Mesa, CA||$2,321.0||-1.36%||$3,057.0||-5.94%|
|San Marcos, CA||$2,592.0||-0.12%||$3,120.0||0.19%|
|National City, CA||$1,740.0||0.06%||$2,500.0||-6.40%|
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.