Multifamily Forecast

Renting an apartment in San Diego County will be getting more expensive, according to a USC Casden Economics Forecast released Thursday that predicts continuing rent increases over the next two years.

San Diego is projected to have a rent increase of $250 by October 2024, outpacing Los Angeles and Orange counties, which are estimated to increase by $100 and $184, respectively.

According to the forecast, San Diego County has a current average rent of $2,334, with a 2.9% vacancy rate. The average rent cost is predicted to rise to $2,582 by 2024, with a 3.44% vacancy rate.

— Johnny Anchondo, 32, of Moreno Valley was arrested and charged with violating his parole after he allegedly committed traffic violations in Fullerton, then, beginning at 4:45 p.m. Wednesday, led police on a high-speed chase through L.A. and Orange counties that “quickly escalated into multiple stolen vehicles, erratically ramming into police cars and gunfire at a gas station in Hacienda Heights,” reports the L.A. Times.

On a recent rainy afternoon in Columbia Falls, Montana, a small town just outside
Glacier National Park, Lisa Beaty and Kim Hilton were preparing to sell most of their
belongings before moving out of their three-bedroom, two-bathroom rental home.

Hilton, who was recovering from a broken leg, watched from his recliner as friends and
family sorted through old hunting gear, jewelry, furniture and clothes.

“The only thing that’s not for sale is the house,” Hilton, 68, said as he checked his blood
sugar. “Everything else has to go.”

Whiplashed tenants who’ve seen rents soar by double digits may get some relief in
the next two years in the form of smaller rent hikes.

But what lies ahead is anyone’s guess as economic uncertainties cloud the outlook, a
top University of Southern California forecaster says.

Inflation, rising interest rates and changing migration patterns make it hard to predict
the future, USC’s Casden Multifamily Forecast the Casden report said.

By Debra Kamin

Some residents have left the state, but many others have just moved out of big cities in search of more space and lower prices, creating hot spots in the suburbs and the once-sleepy exurbs.

By Debra Kamin

Some residents have left the state, but many others have just moved out of big cities in search of more space and lower prices, creating hot spots in the suburbs and the once-sleepy exurbs.

By Greg Cornfield 

Rents in Southern California are quickly adjusting to the pandemic-driven shifts from densely populated regions to the surrounding suburbs over the past 18 months.