San Diego is nicknamed “America’s Finest City” and for good reason. It has long been recognized for its beaches, career opportunities, diverse culture, fantastic foods, and its public-school systems. Needless to say, San Diego is a great place live, build your life, and raise your family. Thus, if you’re planning on relocating there for personal reasons or to start a new career, Eckert’s Moving and Storage are the professional movers that can ensure a smooth transition to your new location. From helping you pack to moving and unpacking, we can be with you at every step of the way.
Should you buy or rent?
If you’re trying to decide between buying and renting, your decision depends on your financial situation, your goals, and your lifestyle. But before you rush into making your decision, there are certain factors that need to be considered. If you’re reluctant to rent because of paying another person’s mortgage, you need to look at the overall picture. Purchasing real estate should be one of your life’s goals and fit into your plans, especially if you’re planning on living here for a long time. However, it is a large investment and unless you are ready to commit staying in San Diego for a long time, you might need to think again about the house purchase.
One way or the other, there are advantages and disadvantages of each choice. You also need to consider the current and future housing market trends here in San Diego. Maybe you’re planning on purchasing a home to sell for a profit after living there for a couple of years. Will it be buyer’s or a seller’s market when you do decide to list it? It’s important to research the area and determine the future outlook. Otherwise, you may have to lower your listing price just to break even on your investment.
So why should you consider renting instead of buying?
Renting is obviously the more affordable option, especially if you’re making a temporary career relocation or you simply want to test the area and see what it has to offer. Also, if you’re renting and not planning on making San Diego your permanent home, you’ll have an easier exit plan if better opportunities come your way. Moving after a 1-year lease ends is much simpler than paying off a 10-to-30-year loan. Remember, buying a home is a costly investment and may tie you down for longer than you had planned.
How much is the average rent in San Diego?
As a San Diego based company, we are commonly asked about the cost of renting here in town. Obviously, you’ll have less of a strain on your budget it you decide to rent here in San Diego. But how much is it going to cost you to rent? What is the average rent in San Diego? The average rent for a 2-bedroom apartment is roughly $2,250 per month, $1,800 per month for a 1-bedroom, and $1,500 for a studio.
Rent prices are commonly based on a number of factors including amenities, the quality of finishes and fixtures, and square footage. Although the average apartment is slightly less than 900 square feet, the size often depends on the date the building was built, its location, and the type of rental property you’re considering. In any event Eckert’s Moving and Storage specializes in moving people into rental properties.
Do rents vary by neighborhood?
As with any other large metropolitan area, rental prices fluctuate in San Diego based on the location of the property. Consequently, the more affluent areas typically see higher rents than less affluent neighborhoods. Here are a few examples of the average rent in San Diego based on different neighborhoods from the lowest to the highest:
- Alta Vista, Broadway Heights, Emerald Hills, Encanto, Jamacha-Lomita, Skyline, and Valencia Park – $1,000 per month
- Mountain View, Shelltown, and Southcrest – $1,200 per month
- Columbia, Cortez, downtown San Diego, East Village, La Jolla, Mira Mesa, Pacific Beach, Pacific Highlands Ranch, Rancho Bernardo, and University City – $2,100 to $2,600 (NOTE: La Jolla rents have been steadily increasing since 2019)
- Carmel Valley, North City, and Torrey Hills – $2,850 per month
Thus, you’re probably wondering about the earnings required for the average rent in San Diego. You’ll need the following salaries to rent the different sized apartments listed:
- $85,000 to rent a studio
- $97,000 to rent a 1-bedroom
- $127,500 to rent a 2-bedroom
- $157,000 to rent a 3-bedroom
Although there are plenty of employment opportunities in all fields, you’ll need to rent as per your income. For more information about the average rent in San Diego or to discuss your moving plans with us, call Eckert’s Moving and Storage today at (888) 274-7230.