Downtown San Diego Rental Complexes Command the Highest Rent Per Square Foot Across the County
San Diego, California , March 2008 – Even as additional units enter the marketplace increasing the competition within the rental market, the downtown San Diego market continues to command the highest rental rates across San Diego County.
The downtown market has surpassed the rental rate of $2.00 per square foot vs. the average across the county of $1.53 per square foot, according to the March, 2008 RentalTrends survey. “There is a huge draw to live the urban life downtown, where within walking distance residents can access Petco Park, Horton Plaza, a multitude of restaurants, grocery stores, and most recently a new bowling alley, all within walking distance,” said Russ Valone, president of MarketPointe Realty Advisors, the real estate database and consulting organization that publishes RentalTrends. Newer complexes downtown also tend to offer amenities that are not available in older complexes, such as gymnasiums and community clubhouses, and higher end interior appointments, increasing the desire for renters to move downtown.
There were 796 rental projects surveyed this audit that contain 114,681 units in San Diego County. Four new complexes entered the market providing a combined 356 new units to the marketplace. Of those 356 total units, 154 have been rented.
Comparative data for rental rates and trends across San Diego County can be found in the just released RentalTrends semi-annual publication. For an overview of the San Diego Apartment Rental Market see the RentalTrends Executive Summary.
RentalTrends is considered the most comprehensive and detailed audit of apartment complexes throughout San Diego County, from an unbiased, yet knowledgeable source. MarketPointe Realty Advisors provides new home, apartment rental, and proposed development information and real estate consulting services. Phone San Diego 619-233-3781, or Orange County 714-528-2554 website is www.marketpointe.com.
- Contact Information
- Russ Valone
- MarketPointe Realty Advisors
- Contact via E-mail
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