Despite the drop in prices, San Diego still placed 4th in the nation for the highest rent of places with up to two bedrooms.
We're not talking about a fire sale in the rental market, but we are seeing rents move in a somewhat more rental-friendly direction,” said Danielle Hale, Chief Economist with Realtor.com.
“I'm a data scientist - I know that's false,” said North Park resident Hobson Lane. Hobson says he and several neighbors just received notices of rent increases between 5% and 9%. He fears many will be forced to move – a trend that is already affecting his neighborhood. New apartment complexes are under construction across the county, including 531 new apartments going up right now in the spot once occupied by a Dixieline in Kearny Mesa.
The combination of high housing prices and rising interest rates has prices many San Diegans out of the market.
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