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📈 The hottest market in SoCal
San Diego is SoCal’s most competitive rental market
A lot of people want to live by landmarks like the Gaslamp Quarter sign. | Photo via Michael Beausoleil + SDtoday
Looking to rent an apartment in San Diego? Prepare for some stiff competition. According to a study by RentCafe, San Diego ranks as the No. 18 hottest rental market in the US, making it SoCal’s most competitive market for the first time in two years.
Rentals by the numbers
RentCafe used Yardi data to rank 139 major US markets and assigned them a Rental Competitivity Index (RCI) score. San Diego’s RCI is 84 — which exceeds the national average of 60 — based on these metrics:
The average rental unit stays vacant for 33 days
96% of San Diego’s apartments are occupied
51.3% of renters renew their lease
Prospective renters will compete with 17 other potential renters, on average
Only 0.22% of San Diego apartments come from new developments
Rentals in Little Italy are popular, and we can see why.
Last year, Orange County had Southern California’s most competitive rental market, but its RCI fell to 83 in 2023 — just one point behind San Diego.
Meanwhile, San Diego’s competitiveness increased. Experts attribute this to the growing rental population and limited space to build housing. According to the Regional Housing Needs Assessment, San Diego will need to add ~100,000 more units by 2029 (13,500 units per year) to meet housing demands.
What’s the trend?
San Diego may be the most competitive rental market in SoCal, but it’s fallen five spots in the national rankings — down from No. 13 in 2022. Still, demand is expected to remain stable.
The county’s average rent was $2,425 in August, making it one of the nation’s most expensive markets. But, the average rent has fallen for two straight months: down 0.4% in August and 0.3% in July. Experts don’t expect long-term price declines, but they do expect stabilization after explosive growth over the past few years.
Events
Monday, Sept. 25
Craftoberfest | Through Sunday, Oct. 1 | 11 a.m.-8 p.m. | Liberty Public Market, 2820 Historic Decatur Rd., San Diego | Free | The Oktoberfest-inspired celebration features German lagers, special dishes created by market vendors, trivia, bingo, and more.
Meditation for a Happy Life | Monday, Sept. 25 | 5:30 p.m. | Mission Valley Branch Library, 2123 Fenton Parkway, San Diego | Free | Learn and practice meditation, improve harmony at home and work, and build your wisdom and inner peace.
Secret San Diego Open Mic | Monday, Sept. 25 | 6:30 p.m. | Rich’s, 1051 University Ave., San Diego | Free | Mic check — one, two: This weekly showcase is for local talent of all ages, arts, and genres.
Tuesday, Sept. 26
“Dishwasher Dreams” | Through Sunday, Oct. 15 | Times vary | The Old Globe, 1363 Old Globe Way, San Diego | $33-$99 | Through comedy, music, and a set of Bangladesh-born parents, this play explores the immigrant experience and what — exactly — it means to live the American Dream.
Shakey Graves | Tuesday, Sept. 26 | 8 p.m. | The Sound, 2260 Jimmy Durante Blvd., Del Mar | $51+ | The Austin-based musician brings his blues, folk, country, and rock sounds to the Del Mar venue with his “Movie of the Week Tour.”
Wednesday, Sept. 27
The “Wait Wait” Stand-Up Tour | Wednesday, Sept. 27 | 8 p.m. | Balboa Theatre, 868 Fourth Ave., San Diego | $32-$52 | A lineup of panelists from NPR’s “Wait Wait...Don’t Tell Me!” news quiz show lead this night of unfiltered stand-up comedy hosted by “Wait Wait” regular Negin Farsad.
Chula Vista Mayor John McCann will deliver his first State of the City address tomorrow at 6 p.m. at Chula Vista Elite Athlete Training Center. McCann will share his vision for the city’s future and provide project updates. A recording will be posted within 72 hours of the meeting.
Traffic
Crews are preparing curbs in Pacific Beach for the addition of new parking meters on Garnet Avenue and Bayard, Hornblend, and Cass streets. Installations will take place next month and meter fees will be enforced in November. Revenue will be used for mobility projects in the community. (Fox 5)
Announced
Pannikin Coffee & Tea — serving San Diego County since 1968 — will debut a new cafe at the ground floor of the historic Bunker house at North Cleveland Street in Oceanside. The new location is still brewing; its opening date has not yet been announced. (San Diego Union-Tribune)
Coming Soon
Gouda news — The Melt will open a new location in Del Mar Highlands Town Center this fall. The cheesy fast casual restaurant is known for its burgers, grilled cheese, and mac ‘n’ cheese and also has locations in the Gaslamp Quarter and La Jolla Village.
Environment
Did you know? More than half of the restaurants and retail shops at San Diego International Airport are recognized as Green Concessions. This distinction is given to establishments that make considerable efforts to reduce waste and conserve energy.
Sports
Anxious for lacrosse to return? Re-lax, the San Diego Seals announced their home opener at Pechanga Arena will be Saturday, Dec. 9, and single-game tickets will be on sale soon.
Outdoors
Just in time for spooky season, locals have noticed an increased number of large spiders. This is attributed to the seasonal uptick in orb weavers — a classification of spider known for their big, circular webs. Generally, they’re harmless when left alone, and the population will decrease when winter weather arrives. (NBC 7)
Watch
Are you a “Big Brother” fan? If you’ve watched the Live Feeds on Paramount+, you may have seen clips of animals during breaks. Those furry friends are from Encinitas-based Rancho Coastal Humane Society, and if you’d like to make one your houseguest, the organization has pets for adoption.
Drink
This brand believed there was a way to take water and make it a little more perfect by infusing it with fruit essences (but none of the gross diet sweeteners, calories, or sugar). And the fruit flavors really taste like fruit. Groundbreaking. Plus, new customers get 36 bottles for $36 + free shipping.* like
Finance
Peek the perks. A $200 welcome bonus, unlimited cash back, and 0% interest into 2024 all with no annual fee almost sounds too good to be true — but this card has it all.*
Community
🛝 Sliding into Otay Mesa
Riviera Del Sol Neighborhood Park nearly completed in Otay Mesa
We’re excited for this park to slide in. | Photo via @CityofSanDiego
The Riviera Del Sol Neighborhood Park in Otay Mesa is almost ready to debut. Crews are nearing the end of construction and expect the 4.9-acre space to open for public use this December.
For nearly two decades, there had been discussions of transforming the vacant lot at 4536 Riviera Shores St. into a community park. Crews broke ground on the $9.5 million project in February 2022, and the new area features:
Basketball courts
Playground structures and fitness equipment
Open-use lawn areas
Shaded picnicking shelters
Restrooms, landscaping, and furnishings like benches
Local leaders are working to add more outdoor spaces to the community. Additional proposals to transform unused lots include the Southwest, Dennery Ranch, Hidden Trails, and Beyer park projects.
Good morning, San Diego. Fall is officially here, and I’m indulging in all the pumpkin spice treats I can find. Recently, I met up with Monica to grab coffee at S3 Coffee Bar in Grantville. I tried the Pumpkin Cookie Butter Cold Brew, and it was perfectly sweet and pumpkin spicy — it might be my new go-to fall drink.
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