Apartment Rents in San Diego Finish 2022 on Bear Run

San Diego’s apartment market ended 2022 on a bear run after rents fell during the final four months of the year. During that stretch, average market rents fell 2.4%. However, the drop in December was the most marginal and rents fell only 0.2% during the month, which could signal that rent growth is normalizing and could return to pre-pandemic levels. The long-term average is 3.4%.