Sunday, July 30, 2017

San Diego rents are increasing!

An article found on www.OurCitySD.com stated that according to Axiometrics research company, the average rent for an apartment in San Diego has gone above $2,000 a month! Specifically, it reached $2,005 in June 2017.

The rental market has been strong in San Diego for quite some time and will continue to stay strong as our city is such a beautiful and desirable place to live! By owning property and converting it into rental income you are setting yourself up for positive cashflow and a strong long term investment.

Do you know anyone whose rent has increased recently?

Now is the time to own real estate in San Diego while mortgage rates are low and you can get a fixed payment amount that will not increase.

http://ourcitysd.com/neighborhoods/san-diego-apartments-rent-for-more-than-2-000/#sthash.3QGjI6qc.dpbs


San Diego average apartment rent passes $2,000


The average monthly rent for a San Diego apartment has eclipsed $2,000 for the first time. According to Axiometrics Research, it reached $2,005 in June. So it’s two grand plus a cup of Starbucks' Caffe Mocha (Venti)  …
Rent has increased every month for the past six months, the research firm found.
If you rent, you weep.
If you own or invest in apartments, it’s a whole other story.
At least for now.
“San Diego continues its run as one of the strongest apartment markets in the nation,” said Jay Denton, vice president of analytics for Axiometrics. “However, a warning sign may be in place, since job growth has declined in April and May.”
The year-over year increase placed annual effective rent growth at 4.9 percent, the highest rate since October 2016’s 5.3 percent and good for the sixth highest nationwide among major markets, according to Axiometrics. Occupancy remained steady at 96.3 percent.
A March report by MarketPointe Realty Advisors had the average monthly rent for a San Diego County apartment at $1,748. In downtown, the monthly average was $2,149. So the rest of the city is apparently catching up.

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