Rental Market Continues to Stay Strong

The rental market continues to stay very strong in San Diego.  With demand for housing outrunning supply, rents are expected to rise, making now a great time to be a property owner in San Diego.  According to new date released in March from real estate data company MarketPointe, the average rent in San Diego County was $1,361, up 2.6 percent from a year ago.  Fewer units and more stringent standards for mortgages has pushed more people into the rental market.  Vacancy rates also hit a new record this year at 4.43 percent, the lowest rate since March of 2008.  San Diego has the sixth-lowest vacancy rate behind New York, Minneapolis, Portland, OR, San Jose and Seattle.