Commercial Real Estate

Commercial Real Estate
Commercial Real Estate

Tuesday, August 2, 2011

How do local rents compare to other areas?

Lily Leung
Aug. 2, 2011


Rents have risen in San Diego County, affecting affordability among certain occupations, says on Washington, D.C. based policy group. Pictured is Carmelina Castillo and her boyfriend, Javier Fernandez, who rent at Vantage Pointe apartments. — K.C. Alfred / Union-Tribune staff


San Diego County is now the 13th most expensive rental market in the U.S. out of more than 200 metro areas, says a housing policy group based in Washington D.C.
The local fair-market rent was $1,406 in the first quarter of 2011, up 6.2 percent, or $82, from fiscal 2010. The numbers were recently reported by the National Housing Conference and Center for Housing Policy, who used figures from the U.S. Department of Housing and Urban Development, also known as HUD.
San Diego previously ranked 18th in fair-market rents in fiscal 2010.
The housing group included those numbers as part of a larger report that said that fewer people who were getting hired in some of the "in demand" job markets faced a hard time buying or renting in areas such as San Diego County, the report said.
Those five professions were: accountant, office clerk, security guard, groundskeeper and janitor.


Fair market rents in the U.S.


Rank '11Metro area2 BR (2011)Rank '102 BR (2010)
1San Francisco$1,833 1$1,760
2Santa Cruz, Calif.$1,730 3$1,656
3Honolulu$1,702 2$1,704
3San Jose$1,702 9$1,438
5Suffolk-Nassau$1,661 5$1,592
6Santa Ana, Calif. $1,584 4$1,594
7Oxnard, Calif.$1,527 8$1,479
8Los Angeles$1,465 10$1,420
9Bethesda, Md.$1,461 6$1,494
9Washington, D.C.$1,461 6$1,494
11Edison, N.J.$1,449 11$1,409
12Napa$1,410 17$1,350
13San Diego$1,406 18$1,324
14New York, N.Y.$1,403 13$1,359
15Oakland, Calif.$1,393 12$1,377
Source: HUD 
 
 

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