Report Shows Uptick In San Diego Apartment Construction
Friday, August 24, 2018
Photo by Susan Murphy
A new report shows the San Diego region will accelerate its construction of apartment units this year.
RENTcafe.com says the San Diego metro area is expected to add 4,089 new apartment units in 2018. That's a 46 percent increase from the number it added in the previous year, and that makes San Diego a top-10 market in terms of its rate of construction increase.
A spokesman for RENTcafe said its reports are based on reviews of construction plans at city planning departments and contacts with developers.
While the news is welcome for a region with a serious housing shortage, San Diego has a long way to go.
A June report from the city of San Diego, for instance, showed the city falls far short of the housing supply recommended by the Regional Housing Needs Assessment, a state-based standard. Between 2013 and 2017, the report said the city's population has grown an average of 1.2 percent each year, though the housing stock has only grown .5 percent annually.
The report by RENTcafe showed that Denver, a smaller metro area than San Diego, is expected to build 15,187 apartment units this year, nearly four times as many as the San Diego region.
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