Housing costs beginning to cool in America's Finest City

SAN DIEGO (KGTV) -- The rapid rise in housing cost is beginning to cool in San Diego County, at least for now according to Zillow.

Over the last year, home values rose six percent, down from more than eight percent a year ago. The Zillow report also found that home values are also rising slower than average.

The trend may be welcome news for renters. Over the last year, rent rose only one percent to an average of $2,540. At this time last year, rents were rising at a dizzying 3.5 percent annually.

Even though price increases are slowing, the median home value in San Diego is still $584,100.

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