“Making It in San Diego: Study shows one-bedroom apartment rent in San Diego is cheaper than studio rent”
According to an article written by 10 News reporter Jermaine Ong, a new San Diego rental study shows that renting a one-Bedroom apartment in San Diego costs nearly $400 less per-month than renting a studio apartment. Based on real estate websites Zillow/HotPads analysis, they show that median rent on a San Diego Studio apartment with a median size of 470 square feet is $2,260 per month.
Rising rents have been a problem in the US for quite some time. According to a recent Market Outlook Report from Realtor.com, in 2017 rents rose in a whopping 78% of markets across the US. And according to recent data, that trend is still going strong in 2018.
According to a recent article from Apartment List, 72 of the 100 largest cities in the US have seen rents increase over the last 12 months, with this past summer showing significant hikes around the country (rental prices increased month-over-month in 85 cities in June, 62 cities in July, and 54 cities in August).
The Takeaway
As the price of renting continues to increase, homeownership is fast becoming the more affordable option. In fact, according to a recent study by Zillow, homeownership is more affordable than renting in many of the major markets across the United States. If you’re currently renting—and watching your rental prices consistently increase—it may be time to explore purchasing a home of your own.
These are all easy items to fix. The most critical thing is to screen your tenants thoroughly as well as research your local tenant/landlord laws.
San Diego residents agree, given the good and bad side of the Metropolitan area, that it is still the closest place that you can call paradise. Living in any city or state has its pros and cons. San Diego is not different except you have the sun 365 days a year, minimal bug population and there’s almost no need for air conditioning or heater units in most areas because the weather is just right. So given the real takeaways of migrating to this part of the country, let’s take a closer look at what it’s really like living here.
Let’s start at the very bread and butter of living in San Diego – the cost of living. Given the fact that California is a state known for a higher cost of living compared to other states, San Diego tops that by 6% more compared to other areas in the state. Prices of houses are higher than the national average sale price and expected to increase over time. In many downtown residential locations, there’s more to pay such as association fees to cover maintenance of facilities in condominiums and apartment compounds. But most residents agree that it is the price to pay to enjoy living in an all year long temperate climate. The benefit of living here is there’s very little shortage of work, with an unemployment rate lower than national average by 5.9% and household income average is much higher by 20.6% than the national median.
San Diego is a very safe place to live. The crime rate is lower by 11% from the national average. It is also 10% lower than the California average. Safety is still depending on the neighborhood you choose to live in, or how safe you feel the neighborhood is. Each area has their own safety rating such as Old Town which is 47% top over the San Diego average or Marina – 59% safer.
Well, aside from the sun and surf, there’s more the city has to offer. Outdoor activities are popular such as hiking, cycling, golf and of course, Yoga. The temperate weather encourages people to stay out and find ways to keep healthy and fit. Balboa Park is considered the cultural epicenter with museums and Spanish Colonial Revival buildings, and of course there’s the San Diego Zoo Safari Park as well as SeaWorld. In the food department, the close proximity of the city to Mexico makes it a food destination for authentic Mexican fare, pair tacos or burritos with locally crafted beer.
To top the to do list is the annual San Diego Comic-Convention. It is the world’s largest entertainment and comic book convention that features celebrities, comic and graphic writers and artists, and lasts for 5 days. It draws more than 130,000 convention attendees coming from all over the country and the world.
