Rents Are On the Rise

posted by Mike Usher - 

A report from Zillow.com says something most people around San Diego County already Know: rents are on the rise.

The report says the average rent for an apartment here was $2,452 as of the end of February, up 4.3 percent in the past twelve months. Perhaps the biggest surprise was the fact rents are higher in San Diego than in the New York region where people are paying $2,391 a month for a place to live.

However, those numbers pale by comparison the San Francisco where the average is a staggering $3,354 a month.

Nationwide rents average a modest $1,406, up 1.2 percent in the past year.

The reason for higher rents is obvious: a lack of supply in apartments, especially here in San Diego County. Supply/demand shows there are fewer spaces available to rent than the number of people who are looking for a place to live.

(Photo Credit: Getty Images)

George Chamberlin

George Chamberlin

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