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San Diego rents will continue to rise, according to USC rental forecast

Posted at 2:19 PM, Oct 17, 2018
and last updated 2018-10-17 17:26:14-04

SAN DIEGO (KGTV) -- A rental forecast out Wednesday predicts that San Diego County's affordable housing crisis will worsen through 2020. 

According to the University of Southern California Casden Economics Forecast, “even under the best case standard, few units in Southern California are affordable.”

By 2020, the report forecasts that average monthly rents will increase by $209 in San Diego County, the highest among all Southern California areas.

The report predicts that the San Diego will continue to see economic and population growth over the “foreseeable future” with the economy’s leading sectors continuing to draw a variety of workers.

The forecast also shows San Diego’s popularity among older members of the population, including retirees.

As a result, housing demand will continue in both the renter and owner-occupied markets, leading rents to increase as vacancy rates remain low.

In 2020, the average rent is predicted to be $2,187 with a 3.75 percent vacancy rate.

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