SAN DIEGO (KGTV) — We all know the rent is too high in San Diego and spending data from housing website HotPads highlights the lengths to which San Diegans are reaching into their wallets.
San Diego renters spent about $10.2 billion on housing in the last year, that's $589 million more than in 2017, HotPad's data reports.
It's enough to put San Diego third in the state, as San Francisco locals shelled out $17 billion and Los Angeles residents paid a staggering $40.4 billion in 2018 for housing. See, silver lining, right?
While we try to remain positive, it's admittedly difficult when rent in San Diego saw a 4.8 percent jump from 2017, bringing the medium rent in town to $2,720 a month this year. That also places San Diego third in California for that category, behind Sacramento (5.8 percent increase) and Riverside (5.7 percent increase).
About 6,000 more households are being rented as well this year, bringing that number to 530,000 San Diego households.
The numbers are a stark reminder of the continuing cost of housing in San Diego and throughout the state.
A Trulia report published Thursday pointed out that despite inventory gains in San Diego, prices continue to rise and outpace wage growth.