San Diego Multifamily Strongest in Years

The San Diego multifamily market is the strongest is has been in 14 years, according to research firm Axiometrics. It also said that it is the strongest market in the sector in all of Southern California.

The San Diego multifamily market is the strongest it has been in 14 years, with the highest apartment rent growth in all of Southern California. This, according to research firm Axiometrics, which also noted that San Diego home prices are so high that it is forcing more residents to rent rather than buy.

Annual rent growth reportedly rose 7.3 percent in July, the highest since the 10.5-percent jump in the second quarter of 2001. Average monthly rents in San Diego County have risen to $1,818, which is $124 more than July of last year.