Renting an apartment in San Diego county will be getting more expensive, with a USC Casden Economics Forecast predicting continuing rent increases over the next two years.
SAN DIEGO - Renting an apartment in San Diego county will be getting more expensive, with a USC Casden Economics Forecast released Thursday predicting continuing rent increases over the next two years.
According to the forecast, San Diego County has a current average rent of $2,334, with a 2.9% vacancy rate, with the average rent predicted to rise to $2,582 by 2024, with a 3.44% vacancy rate. Richard Green, director of the Lusk Center, noted that the forecast was somewhat uncertain due to fluctuations in inflation, rising interest rates and relocations.
"While it might slow inflation, rapid rate hikes could have a different impact on housing in Southern California. High interest can be barrier to new housing construction or a renter's decision to become a homeowner. Both add stress to the rental market and drive up prices."
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