San Diego Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for San Diego, CA. Currently, the overall median rent in the city stands at $2,293, after rising 0.6% last month. Prices remain down 2.5% year-over-year. Read on to learn more about what’s been happening in the San Diego rental market and how it compares to trends throughout the broader San Diego metro area and the nation as a whole.

San Diego rents are up 0.6% month-over-month and down 2.5% year-over-year

The median rent in San Diego rose by 0.6% over the course of March, and has now decreased by a total of 2.5% over the past 12 months. San Diego’s rent growth over the past year has has fallen behind both the state (-1.0%) and national averages (-0.8%).

San Diego rent growth in 2024 pacing below last year

Three months into the year, rents in San Diego have risen 0.7%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 1.3%.

March rent growth in San Diego ranked #38 among large U.S. cities

San Diego rents went up 0.6% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #38. Similar monthly rent growth took place in Atlanta, GA (0.7%) and Corpus Christi, TX (0.6%).

San Diego is the #9 most expensive large city in the U.S., with a median rent of $2,293

Citywide, the median rent currently stands at $1,954 for a 1-bedroom apartment and $2,449 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $2,293. That ranks #9 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in San Diego is 65.2% higher than the national, and is similar to the prices you would find in Boston, MA ($2,300) and New York City, NY ($2,268).

San Diego rents are 1.2% higher than the metro-wide median

If we expand our view to the wider San Diego metro area, the median rent is $2,266 meaning that the median price in San Diego proper ($2,293) is 1.2% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -1.5%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 7 cities in the San Diego metro area that are included in our database. Among them, Oceanside is currently the most expensive, with a median rent of $2,405. La Mesa is the metro’s most affordable city, with a median rent of $2,093. The metro's fastest annual rent growth is occurring in Escondido (3.8%) while the slowest is in San Diego (-2.5%).

You can also use the map below to explore the latest rent trends in the San Diego metropolitan area.