As Competition for Renter Households Rises in San Diego, Rents Fall Again

It turns out that December was only slightly kinder for San Diego's apartment landlords than the previous five months. Rents still fell by 0.2%, but that was the best result since July, when rents fell at a similar pace. As overall vacancy has risen above 4% for the first time since 2020, local landlords have noted that the increase in competition for new renter households pushed rents downward as landlords reset expectations following record-high rent growth during the COVID-19 pandemic.