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Average Rent Hit Record High In San Diego County

An apartment building in San Diego, April 5, 2007.

Photo by Thomas Levinson / Flickr

Above: An apartment building in San Diego, April 5, 2007.

Average Rent Hit Record High In San Diego County

GUEST:

Phillip Molnar, real estate reporter, The San Diego Union-Tribune

Transcript

The average rental price in San Diego County hit a record high of $1,875 in September, growing faster than home price increases.

Rents jumped nearly eight percent last month from a year before, according to a new rental report by MarketPointe Realty Advisors, which tracks San Diego’s rental market.

Rising rents are partly due to a slow down in construction, higher demand, more expensive luxury units coming online and fewer studios being built.

Phillip Molnar, who covers real estate and business issues for The San Diego Union-Tribune, discussed these and other real estate trends Monday on Midday Edition.

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