TIMES OF SAN DIEGO: SAN DIEGO, RENTS STILL ON THE RISE, RANKS AS TOP 10 MOST COSTLIEST CITIES
A rental sign outside a North Park apartment complex. Staff photo
San Diego ranks as the seventh most expensive city for renters, according to a monthly survey of costs across the country.
The median price of one-bedroom units in San Diego increased 1.3% to $2,400 last month, Zumper.com reported, while two bedroom units grew 2.6% to $3,180.
Four of the top 10 priciest markets are in California, with San Francisco coming in third nationally. San Jose followed in sixth place, trailed by San Diego and Los Angeles. Oakland, Santa Ana and Anaheim finished just outside the top 10.
New York tops the list at $3,570 a month for a one bedroom.
Among other markets in the West, rents slipped 4.2% over the past year in Scottsdale, down to $1,820 for a one bedroom. In Gilbert, Ariz. though, rents rose 6.5% to $1,650. In Henderson, Nev., rents also fell, by 4.5%, to $1480.
Tucson is the most affordable western market, at $910 for a one bedroom, up 3% in the past year. Nationally, Akron, Ohio and Wichita, Kan. tied as the most affordable places to rent in the U.S. at $700 for a one bedroom.
To compare, Zumper’s National Index showed one bedrooms staying flat at $1,495, while two bedrooms rose 0.5% to $1,842 in April.
Both bedroom types are up about 6% year-over-year.
Zumper projects that a record number of new rentals coming to market across much of the country, while not enough to solve the national housing shortage, will help prices remain rental relatively stable. In many cities, though, the new rentals are being produced in the luxury category.