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Will rents rise another 4.7 percent?

SD's are already fourth highest among major metros

San Diego County's median rents will rise 4.7 percent in the next year, down slightly from the 4.9 percent rise over the last year, according to Zillow. The 4.7 percent jump will be eighth largest among the 35 major metropolitan areas in the U.S.

Now, San Diego rents at a median $2427 a month are the fourth highest among the 35 metro areas. The only metro areas topping San Diego are Los Angeles ($2593), San Francisco ($3406) and San Jose ($3517).

Generally, rents in Western metro areas are rising faster than in other parts of the nation. According to Zillow, rents will rise 7.2 percent in Seattle and 6.0 percent in Portland over the next year — the two highest. All the top ten except Cincinnati are in the West. United States rents are expected to rise 1.7 percent in the next year, same as last year. The median monthly rent in the 35 largest metro areas is now $1405.

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San Diego County's median rents will rise 4.7 percent in the next year, down slightly from the 4.9 percent rise over the last year, according to Zillow. The 4.7 percent jump will be eighth largest among the 35 major metropolitan areas in the U.S.

Now, San Diego rents at a median $2427 a month are the fourth highest among the 35 metro areas. The only metro areas topping San Diego are Los Angeles ($2593), San Francisco ($3406) and San Jose ($3517).

Generally, rents in Western metro areas are rising faster than in other parts of the nation. According to Zillow, rents will rise 7.2 percent in Seattle and 6.0 percent in Portland over the next year — the two highest. All the top ten except Cincinnati are in the West. United States rents are expected to rise 1.7 percent in the next year, same as last year. The median monthly rent in the 35 largest metro areas is now $1405.

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Comments
18

Location, location, location.

Oct. 8, 2016

MichaelValentine: Go West, young man. Best, Don Bauder

Oct. 8, 2016

There are alternatives:

"The median home value in Detroit is $38,100. Detroit home values have gone up 3.0% over the past year and Zillow predicts they will rise 1.8% within the next year. The median rent price in Detroit is $750..." - Zillow

Oct. 8, 2016

swell: Similar data come from Cleveland and other Rust Belt cities. Homes are extremely cheap; many are in extreme disrepair. Best, Don Bauder

Oct. 9, 2016

The Dark Ages loom.

Oct. 9, 2016

Flapper: One-third of the population may die of the plague. Best, Don Bauder

Oct. 9, 2016

Housing costs in San Diego, be it buying or renting, has continued to rise faster than the income of the residents. San Diego has always been one of the areas that pays the least in hourly wages. The middle class has largely been made up of hourly workers. They are now fast becoming the working poor. The homes in what were blue collar middle class neighborhoods are too expensive for anyone working by the hour to afford. Rents are right behind.The combination of high rents, high utilities and low wages will eliminate the middle class in San Diego. Add to that the influx of unskilled immigrants and we will see an increase in homelessness and poverty among working people. It is the middle class that supports small business and without a healthy middle class the small business community will suffer the most.

Oct. 9, 2016

AlexClarke: You are right. San Diego housing and utilities costs push the cost of living skyward while incomes remain moderate. Best, Don Bauder

Oct. 9, 2016

The coming shot across the bow: https://www.c-span.org/video/?414303-1/euro

Oct. 9, 2016

Flapper: Serious problems remain overseas. Much of Europe is still in deep trouble. Japan has serious problems, particularly demographic ones. China's bubble may burst. Latin American countries have deep woes. Best, Don Bauder

Oct. 9, 2016

Mike Murphy: Media chatter about rising rents and housing prices don't push the indices ever higher, in my judgment. We don't have that kind of power. Best, Don Bauder

Oct. 9, 2016

It plants the seed of greed where it may not have grown otherwise

Oct. 10, 2016

"Gentrification."

Oct. 9, 2016

Flapper: Gentrification boosts both rents and housing prices. Best, Don Bauder

Oct. 9, 2016

Eric Rilchter: Homelessness plagues San Diego, and little is being done about the situation. Best, Don Bauder

Oct. 11, 2016

. . . speaking of sociopaths . . .

Oct. 11, 2016

Flapper: I think you are using the term "sociopath" to allude to the politicians who have done little about the homeless. I hope you are not calling the homeless sociopaths. Best, Don Bauder

Oct. 12, 2016

"Society" comes from the Latin, "socius," meaning "partner" or cooperator. "Culture" comes from "cultus," meaning to tear up the earth. The "cultivated" hold cooperation in contempt and idolize the competitive.

I once lived in a community of "bums." They cooperated in expelling the sociopaths from their midst, but only when persuasion failed. In a true society, when a sociopathology surfaces, it is automatically absorbed by disapproval and "dies on the vine." Cultures cultivate the competitive and suppress diversity (particularly in thought), and the yield is a trend toward reduction in quality and an increase in quantity from which unearned increment can be deprived until the soil (resource base) is depleted.

One need only to look at the cultures of the past and compare them with cooperative societies. "The Descent of Man" in a literal sense.

Oct. 12, 2016

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