Vacancy & al Rate Survey The SDCAA Vacancy & al Rate Survey data shows tight rental markets throughout the San Diego region, with exception of North County. According to the SDCAA s Vacancy and al Rate Survey, the vacancy rate for the San Diego region rose to 5.4 percent, at the same time, rental rates continued to rise. The survey indicated a regional vacancy rate of 4.5 percent, while the Fall 2015 survey showed a vacancy rate of only 2.6 percent this time last year. However, digging deeper into the data, the results shows that most of the San Diego Region remains in a very tight rental market. The City of San Diego s vacancy rate remained almost the same at 3.4 percent, just slightly higher than the 3.2 percent reported in Spring 2016; the vacancy rate in San Diego County was at 7.0 percent. Yet, the vacancy rate dropped significantly from Spring to in the South Bay from 6.3 to 3.7 percent, and from 6.0 to 3.2 percent in the East County. The decline in rates in the south and east could mean that the new apartment developments that were available last spring are now occupied. Among Single Family al units reported countywide in the survey, the countywide vacancy rate was only 2.6 percent compared to the vacancy rate of 7.0 percent in Spring 2016. Interestingly, the vacancy rate in the North County San Diego spiked upwards from 2.8 percent last Spring to 11.5 percent this Fall. The spike in vacancies is likely due to large multifamily properties becoming available in Oceanside and Vista to name a few areas. Consistent with other rental surveys, the survey shows rental rates continued to rise. Countywide, the average rent in the survey rose to $1,719 from an average of $1,560 in Spring 2016. al rates from Spring to for specific unit types, the reported weighted average rent rose from $1,084 to $1,128 for studios, $1,368 to $1,531 for 1-bedroom units, $1,637 to $1,789 for 2-bedroom units, and $2,082 to $2,323 for units with three or more bedrooms. Comparing average rental rates among all unit types in San Diego County (City San Diego included) rose from $1,513 to $1,719, a 13.62 percent increase, from Fall 2015 to. The increase in rental rates and declining vacancy rates in all areas show that the San Diego region still suffers from a housing unit deficit. In recent months, there has been a number of reports showing that in San Diego, and statewide, the housing crisis is getting worse because the region and state is not producing enough new housing to keep up with demand. While commercial and industrial construction activity is alowner December 2016 15
up in the region, new residential construction has declined this year. the performance of a particular sample of rental units over time. What makes the SDCAA s Vacancy & al Rate Surveys unique from other local rental surveys is that it collects data from a variety of rental property types such as single family homes, condos, townhomes, duplexes, and both small and large multifamily complexes. Typically, other rental market surveys, although they often report a large sample size of units, only include larger multifamily rental complexes. The SDCAA s Vacancy and al Rate Survey is performed twice a year in early spring and autumn to provide a snapshot of industry conditions. The Vacancy and al Rate surveys are the most comprehensive and longest running in the San Diego region. Varying levels of responses in some zip codes have made it difficult to ascertain a clear picture of the direction of overall changes in rents. It is suggested rents be reviewed at the individual zip code levels and then examined further through additional research. The survey was mailed in late August to nearly 6,000 rental property owners and managers throughout San Diego County, for which it received responses from 21,174 units. Survey responses are solicited from a range of property sizes, ages and amenity levels in order to more closely reflect the wide variety of rental housing available to area residents. Due to the fluctuating response levels of this methodology, comparisons among survey periods do not necessarily reflect 16 alowner December 2016 Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Historical Vacancy Rate 2005 to 2016 Survey Overall Vacancy Rate Overall City of San Diego Vacancy Rate City of San Diego County of San Diego Vacancy Rate County of San Diego Spring 3.9% 50,017 3.9% 21,725 4.0% 28,292 Fall 4.4% 41,958 4.3% 20,563 4.5% 21,395 Spring 3.4% 42,152 3.4% 19,627 3.4% 22,525 Fall 3.1% 37,113 2.8% 22,237 3.5% 14,876 Spring 5.1% 50,268 5.4% 27,142 4.7% 23,126 Fall 3.4% 38,430 3.5% 23,410 3.3% 15,020 Spring 4.8% 38,763 5.3% 23,124 4.0% 15,639 Fall 3.6% 37,304 3.7% 17,724 3.6% 19,580 Spring 5.4% 33,367 5.0% 18,397 5.8% 14,970 Fall 5.0% 38,207 5.1% 20,455 4.9% 17,752 Spring 4.9% 50,089 5.2% 24,275 4.6% 25,814 Fall 4.6% 36,458 5.1% 18,374 4.1% 18,084 Spring 3.9% 25,905 4.1% 10,720 3.7% 15,185 Fall 4.3% 19,915 3.8% 8,545 4.7% 11,370 Spring 4.5% 19,682 3.4% 6,991 5.1% 12,691 Fall 4.5% 25,566 3.4% 9,686 5.1% 15,880 Spring 4.5% 26,908 4.8% 9,909 4.4% 16,999 Fall 4.1% 17,940 3.4% 6,135 4.5% 11,805 Spring 2.8% 12,663 2.7% 4,513 2.8% 8,150 Fall 2.3% 16,396 2.2% 8,434 2.4% 7,962 Spring 4.1% 18,314 4.2% 10,627 4.0% 7,687 Fall 2.6% 19,768 2.8% 9,851 2.5% 9,917 Spring 4.5% 21,096 3.4% 9,005 5.5% 12,091 Fall 5.4% 21,174 3.4% 9,498 7.0% 11,676
Zip Codes City/Area Name City of San Diego Vacancy Rates by Community & Property Age All Over 25 Years 6 to 25 Years Less Than 6 Years Property Age Undefined 92037, 93, 161 La Jolla 1.1% 278 3 1.1% 262 3 0.0% 15 0 0.0% 1 0 92101 Downtown San Diego 2.4% 126 3 0.0% 18 0 2.8% 107 3 0.0% 1 0 92102 Golden Hill/ Mt. Hope/ Chollas View 7.9% 38 3 8.1% 37 3 0.0% 1 0 92103 Hillcrest / Mission Hills 1.5% 201 3 1.2% 165 2 9.1% 11 1 0.0% 21 0 0.0% 4 0 92104 North Park 3.0% 101 3 3.4% 87 3 0.0% 1 0 0.0% 13 0 92105 City Heights / East San Diego 6.3% 16 1 0.0% 5 0 9.1% 11 1 92106 Point Loma 0.0% 5 0 0.0% 5 0 92107 Ocean Beach 3.8% 158 6 0.0% 28 0 100.0% 1 1 3.9% 129 5 92108 Mission Valley 2.9% 625 18 0.0% 20 0 3.0% 605 18 92109 Pacific Beach 2.7% 226 6 3.0% 198 6 0.0% 7 0 0.0% 21 0 Old Town / 92110 Bay Park 0.0% 32 0 0.0% 31 0 0.0% 1 0 92111 Linda Vista 10.0% 10 1 10.0% 10 1 92113 Logan Heights 9.1% 11 1 9.1% 11 1 92114 Encanto 0.0% 54 0 0.0% 54 0 92115 College Grove 0.7% 715 5 2.0% 248 5 0.0% 1 0 0.0% 466 0 Normal 92116 Heights 4.8% 84 4 9.4% 32 3 1.9% 52 1 92117 Clairemont 2.5% 322 8 2.5% 322 8 92119 San Carlos 7.1% 395 28 5.7% 212 12 8.7% 183 16 92120 Del Cerro 4.6% 130 6 4.6% 130 6 92122 University City 0.1% 765 1 0.1% 765 1 Kearny Mesa/ 92123 Serra Mesa 6.7% 15 1 6.7% 15 1 92124 Tierrasanta 5.6% 358 20 5.6% 358 20 92126 Mira Mesa 5.0% 1,098 55 6.4% 499 32 3.9% 492 19 3.7% 107 4 92127 Westwood 1.7% 405 7 1.7% 404 7 0.0% 1 0 92128 Rancho Bernardo 16.7% 6 1 25.0% 4 1 0.0% 1 0 0.0% 1 0 92129 Rancho Peñasquitos 4.1% 145 6 4.1% 145 6 92130 Carmel Valley 8.3% 360 30 8.3% 360 30 Scripps Ranch 92131 / Miramar 7.6% 278 21 6.7% 164 11 8.8% 114 10 92154 Otay Mesa 3.1% 2,541 78 2.6% 428 11 2.6% 733 19 3.4% 408 14 3.5% 972 34 alowner December 2016 17
Zip Codes County of San Diego Vacancy Rates by Community & Property Age City/Area Name All Over 25 Years 6 to 25 Years Less Than 6 Years Property Age Undefined 91907, 09, 10, 11, 12, Chula Vista 13, 14, 15 4.2% 3,049 128 1.6% 800 13 2.9% 35 1 10.1% 461 47 3.8% 1753 67 91916 Descanso 0.0% 16 0 0.0% 16 0 91932, 33 91941, 42, 43, 44 91940, 45, 46 91950, 51 91976, 77, 78, 79 92007 Imperial Beach 4.5% 133 6 4.2% 48 2 0.0% 16 0 5.8% 69 4 La Mesa 4.1% 1,284 53 2.2% 365 8 4.0% 527 21 3.5% 198 7 8.8% 194 17 Lemon Grove 28.6% 7 2 50.0% 4 2 0.0% 2 0 0.0% 1 0 National City 100.0% 1 1 100.0% 1 1 Spring Valley 2.0% 392 8 1.8% 274 5 2.5% 118 3 Cardiff By the Sea 36.4% 11 4 36.4% 11 4 92023, 24 Encinitas 0.0% 149 0 0.0% 149 0 92025, 26, 27, Escondido 29 3.3% 551 18 1.0% 201 2 0.0% 69 0 4.0% 198 8 9.6% 83 8 92008, 09, 10, Carlsbad 11 4.7% 254 12 4.8% 248 12 0.0% 3 0 0.0% 3 0 92014 Del Mar 6.3% 111 7 6.3% 111 7 92019, 20, 21, 22, 90 92028 El Cajon 1.9% 1,240 23 5.5% 1209 18 16.1% 31 5 Fallbrook/ Rainbow 4.2% 48 2 4.2% 48 2 92040 Lakeside 20.0% 5 1 20.0% 5 1 92049, 50, 51, 52, 54, 56, Oceanside 57, 58 29.8% 879 262 43.7% 577 252 0.0% 1 0 3.3% 301 10 92069, 73, 76, 77, San Marcos 78, 79 4.1% 629 26 2.3% 256 6 7.5% 255 19 0.8% 118 1 92071 Santee 4.4% 612 27 2.7% 258 7 0.0% 7 0 5.8% 347 20 92075 Solana Beach 2.1% 189 4 2.1% 189 4 92081, 83, 84, Vista 85 11.0% 2,115 234 4.6% 1091 50 3.7% 242 9 51.7% 290 150 5.1% 492 25 92118 Coronado 0.0% 1 0 0.0% 1 0 18 alowner December 2016
Weighted Average s City/Area Name In an effort to promote responsibility when considering rent adjustments, the SDCAA has developed a resource guide, the " Adjustment kit." For a free copy please contact the SDCAA at info@sdcaa.com City of San Diego (only) County of San Diego (Including the City of San Diego) of Bedrooms /Properties Surveyed Average Mo. Average per Sq. Ft. Studio 326/30 $1,228 $2.79 1 Bedroom 3353/122 $1,624 $2.39 2 Bedrooms 4894/146 $1,893 $1.87 3+ Bedrooms 925/50 $2,552 $2.01 Studio 636/58 $1,129 $2.52 1 Bedroom 7706/221 $1,531 $2.24 2 Bedrooms 11108/295 $1,789 $1.83 3+ Bedrooms 1724/118 $2,323 $1.86 Vacancy Report By Region Location Age of Property Less than 6 years East County North County 3.5% 198 7 6-25 years 3.8% 552 21 Over 25 Years 1.9% 2,115 41 Age Undefined 6.5% 691 45 3.2% 3,556 114 Less than 6 years 26.2% 606 159 6-25 years 4.9% 571 28 Over 25 Years 11.8% 2,881 339 Age Undefined 4.9% 878 43 11.5% 4,936 569 Less than 6 years 7.9% 381 30 6-25 years 3.6% 1,840 66 City of San Diego Over 25 Years 3.3% 3,825 125 Age Undefined 2.2% 911 20 3.5% 6,957 241 Less than 6 years 7.0% 869 61 South Bay 6-25 years 2.6% 784 20 Over 25 Years 2.1% 1,278 27 Age Undefined 3.8% 2,794 105 Countywide 3.7% 5,725 213 5.4% 21,174 1,137 Vacancy Report By County/City Location Age of Property County of San Diego Less than 6 years City of San Diego 16.8% 1,265 6-25 years 4.3% 1,174 50 Over 25 years 6.8% 5,846 396 Age Undefined 4.7% 3,391 159 7.0% 11,676 818 Less than 6 years 5.6% 789 44 6-25 years 3.3% 2,573 85 Over 25 years 3.2% 4,253 136 Age Undefined 2.9% 1,883 54 3.4% 9,498 319 5.4% 21,174 1,137 Countywide 213 alowner December 2016 19
Size of Vacancy Report by Unit Type - Property Age All Over 25 Years 6 to 25 Years Less Than 6 Years Property Age Undefined Studio 3.1% 636 20 3.1% 478 15 7.1% 14 1 0.0% 2 0 2.8% 142 4 1 Bedroom 4.6% 7,706 354 2.5% 3,659 91 4.2% 1,599 67 18.4% 711 131 3.7% 1,737 65 2 bedrooms 6.0% 11,108 661 7.4% 5,408 401 3.2% 1,884 61 9.0% 879 79 4.1% 2,937 120 3+ Bedrooms 5.9% 1,724 102 4.5% 554 25 2.4% 250 6 10.2% 462 47 5.2% 458 24 In an effort to promote responsibility when considering rent adjustments, the SDCAA has developed a resource guide, the " Adjustment kit." For a free copy please contact the SDCAA at info@sdcaa.com 20 alowner December 2016
City of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type / Properties Surveyed Average Monthly Average /Sq. Foot Spring 2016 Average Monthly Fall 2015 Average Monthly 92130 Carmel Valley 92105 City Heights / East San Diego 92117 Clairemont 92115 College Grove 92120 Del Cerro 92101 Downtown San Diego 92114 Encanto 92102 Golden Hill /Mt. Hope / Chollas View 92103 Hillcrest / Mission Hills 92123 Kearny Mesa 92037, 93, 161 La Jolla Studio 0/0 $0 $0.00 $0 1 Bedroom 52/1 $2,704 $3.12 $1,542 2 Bedrooms 128/1 $3,251 $2.96 $0 3+ Bedrooms 180/1 $3,760 $2.96 $0 Studio 0/0 $0 $0.00 $825 $730 1 Bedroom 3/1 $750 $1.25 $1,125 $855 2 Bedrooms 12/3 $1,188 $1.57 $1,059 $1,033 3+ Bedrooms 1/1 $1,600 $1.33 $1,213 $0 Studio 10/1 $1,050 $1.75 $1,160 $1,209 1 Bedroom 54/1 $1,181 $1.77 $1,280 $1,336 2 Bedrooms 243/3 $1,440 $1.55 $1,466 $1,496 3+ Bedrooms 15/2 $1,722 $1.66 $1,673 $1,507 Studio 0/0 $0 $0.00 $780 $825 1 Bedroom 214/10 $1,196 $1.76 $1,127 $1,063 2 Bedrooms 409/13 $1,639 $1.61 $1,554 $1,489 3+ Bedrooms 92/6 $2,201 $2.04 $2,296 $2,071 1 Bedroom 91/1 $1,450 $2.06 $1,100 $0 2 Bedrooms 35/2 $1,291 $1.44 $1,360 $1,275 3+ Bedrooms 4/4 $2,874 $1.53 $2,400 $0 Studio 12/2 $1,823 $4.20 $879 $1,427 1 Bedroom 87/6 $2,089 $3.00 $947 $1,822 2 Bedrooms 27/5 $3,007 $2.63 $2,479 $2,068 3+ Bedrooms 0/0 $0 $0.00 $0 $2,481 Studio 0/0 $0 $0.00 $700 $795 1 Bedroom 12/1 $950 $1.40 $780 $815 2 Bedrooms 26/2 $1,115 $1.38 $1,052 $1,039 3+ Bedrooms 16/2 $1,363 $1.36 $1,265 $1,223 Studio 15/3 $788 $1.98 $800 $795 1 Bedroom 14/4 $1,048 $1.93 $1,087 $963 2 Bedrooms 9/4 $1,322 $1.86 $1,283 $1,205 3+ Bedrooms 0/0 $0 $0.00 $2,700 $0 Studio 32/8 $962 $2.84 $833 $971 1 Bedroom 96/15 $1,354 $2.27 $1,264 $1,077 2 Bedrooms 60/14 $1,773 $1.78 $1,650 $1,669 3+ Bedrooms 13/3 $2,608 $2.17 $2,600 $380 1 Bedroom 0/0 $0 $0.00 $0 $0 2 Bedrooms 14/1 $1,052 $1.23 $0 $0 3+ Bedrooms 1/1 $2,050 $1.81 $2,105 $1,950 Studio 57/2 $1,813 $3.49 $1,374 $1,175 1 Bedroom 73/4 $1,964 $3.07 $1,600 $1,610 2 Bedrooms 147/7 $1,904 $1.78 $1,950 $2,039 3+ Bedrooms 1/1 $2,800 $1.51 $4,675 $6,400 alowner December 2016 21
92111 Linda Vista 92113 Logan Heights 92126 Mira Mesa 92108 Mission Valley 92116 Normal Heights 92104 North Park 92107 Ocean Beach 92110 Old Town / Bay Park 92154 Otay Mesa 92109 Pacific Beach 92139 Paradise Hills 92106 Point Loma City of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type / Properties Surveyed Average Monthly Average /Sq. Foot Spring 2016 Average Monthly Fall 2015 Average Monthly Studio 2/2 $625 $1.94 $822 $683 1 Bedroom 2/2 $775 $1.91 $1,264 $975 2 Bedrooms 2/2 $1,200 $1.42 $1,577 $1,343 3+ Bedrooms 4/4 $1,998 $1.45 $1,473 $1,341 Studio 0/0 $0 $0.00 $700 $850 1 Bedroom 10/2 $970 $1.87 $922 $933 2 Bedrooms 1/1 $1,325 $1.33 $1,078 $1,113 3+ Bedrooms 0/0 $0 $0.00 $0 $636 Studio 0/0 $0 $0.00 $1,195 $0 1 Bedroom 492/5 $1,657 $2.26 $1,563 $1,157 2 Bedrooms 580/6 $1,881 $1.89 $1,819 $1,353 3+ Bedrooms 26/3 $2,310 $1.67 $1,895 $1,590 1 Bedroom 143/2 $1,761 $2.51 $1,628 $1,934 2 Bedrooms 459/3 $2,232 $2.03 $1,990 $2,273 3+ Bedrooms 23/1 $2,558 $1.93 $2,441 $3,028 Studio 24/2 $774 $1.98 $898 $772 1 Bedroom 33/10 $1,152 $1.92 $1,020 $946 2 Bedrooms 26/10 $1,604 $1.80 $1,412 $1,431 3+ Bedrooms 1/1 $1,910 $1.68 $1,980 $2,250 Studio 14/3 $636 $1.59 $637 $744 1 Bedroom 52/17 $961 $1.66 $1,028 $967 2 Bedrooms 33/12 $1,204 $1.57 $1,435 $1,378 3+ Bedrooms 2/2 $1,988 $1.50 $1,656 $1,606 Studio 28/3 $1,163 $2.83 $1,064 $1,044 1 Bedroom 92/4 $1,402 $2.27 $1,298 $1,265 2 Bedrooms 31/10 $1,537 $1.63 $1,553 $1,498 3+ Bedrooms 7/1 $1,595 $1.72 $1,558 $1,495 Studio 23/1 $930 $3.10 $989 $897 1 Bedroom 8/2 $1,049 $2.00 $1,357 $1,170 2 Bedrooms 1/1 $1,700 $2.13 $1,720 $1,489 3+ Bedrooms 0/0 $0 $0.00 $0 $0 1 Bedroom 501/6 $1,553 $2.08 $1,663 $1,300 2 Bedrooms 1647/10 $1,778 $1.74 $1,723 $1,500 3+ Bedrooms 393/4 $2,323 $1.74 $2,216 $1,731 Studio 5/2 $1,265 $2.76 $1,314 $1,464 1 Bedroom 149/11 $1,298 $2.42 $1,245 $1,269 2 Bedrooms 63/17 $1,686 $1.94 $1,762 $1,699 3+ Bedrooms 9/6 $2,864 $1.93 $3,282 $2,554 Studio $0 $0 1 Bedroom $0 $1,098 2 Bedrooms $1,441 $1,362 3+ Bedrooms $1,920 $0 Studio 0/0 $0 $0.00 $825 $0 1 Bedroom 5/1 $1,076 $2.15 $1,063 $1,067 2 Bedrooms 0/0 $0 $0.00 $1,500 $1,188 3+ Bedrooms 0/0 $0 $0.00 $0 $0 22 alowner December 2016
92128 Rancho Bernardo 92129 Rancho Peñasquitos 92119 San Carlos 92173 San Ysidro 92131 Scripps Ranch / Miramar 92121 Sorrento Valley 92124 Tierrasanta 92122 University City 92127 Westwood City of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type Vacancy & al Rate Survey continued on page 33. / Properties Surveyed Average Monthly Average /Sq. Foot Spring 2016 Average Monthly Fall 2015 Average Monthly 1 Bedroom 1/1 $1,250 $2.15 $0 $1,598 2 Bedrooms 3/3 $1,582 $1.11 $1,745 $2,227 3+ Bedrooms 2/2 $2,725 $1.53 $0 $2,691 1 Bedroom 0/0 $0 $0.00 $1,100 $0 2 Bedrooms 127/1 $1,594 $1.75 $1,213 $1,100 3+ Bedrooms 18/1 $1,906 $1.79 $0 $0 Studio 104/1 $1,279 $2.69 $0 $0 1 Bedroom 171/2 $1,475 $1.92 $1,585 $1,535 2 Bedrooms 119/4 $1,870 $1.80 $1,958 $1,910 3+ Bedrooms 1/1 $1,970 $1.79 $2,004 $1,800 Studio $0 1 Bedroom $0 2 Bedrooms $1,200 3+ Bedrooms $0 1 Bedroom 136/5 $1,890 $2.65 $1,250 $1,799 2 Bedrooms 142/3 $2,245 $2.29 $1,488 $2,127 3+ Bedrooms 0/0 $0 $0.00 $0 $1,835 Studio $1,225 1 Bedroom $1,485 2 Bedrooms $1,700 3+ Bedrooms $2,550 1 Bedroom 136/1 $1,681 $2.57 $0 $1,562 2 Bedrooms 221/2 $1,843 $2.11 $2,063 $1,758 3+ Bedrooms 1/1 $1,900 $1.25 $1,865 $1,900 1 Bedroom 581/5 $1,902 $3.12 $1,775 $1,864 2 Bedrooms 184/4 $2,767 $2.66 $2,368 $2,521 3+ Bedrooms 0/0 $0 $0.00 $2,133 $0 1 Bedroom 145/2 $1,698 $2.35 $1,645 $1,570 2 Bedrooms 145/2 $2,046 $1.80 $1,947 $1,856 3+ Bedrooms 115/2 $2,224 $1.81 $2,043 $2,070 alowner December 2016 23
County of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type / Properties Surveyed Average Mo. Average / Sq. Foot Spring 2016 Average Mo. Fall 2015 Average Mo. 91901 Alpine 92130 Bonita Studio $0 1 Bedroom $0 2 Bedrooms $0 3+ Bedrooms $1,950 Studio $0 $0 1 Bedroom $0 $1,341 2 Bedrooms $0 $1,592 3+ Bedrooms $2,100 $750 92008, 09, 10, 11 Carlsbad Studio 9/2 $1,030 $2.61 $1,121 $1,123 1 Bedroom 48/3 $1,459 $2.20 $1,240 $1,197 2 Bedrooms 178/3 $1,839 $2.12 $1,864 $2,120 3+ Bedrooms 19/7 $2,693 $1.84 $2,472 $2,067 91907, 09, 10, 11, 13, 14, 15 Chula Vista 92118, 78 Coronado 92014 Del Mar Studio 11/6 $97 $2.14 $804 $846 1 Bedroom 1296/28 $1,400 $2.06 $1,343 $1,123 2 Bedrooms 1583/34 $1,709 $1.79 $1,691 $1,361 3+ Bedrooms 159/13 $2,084 $1.62 $2,261 $1,548 Studio 0/0 $0 $0.00 $1,425 1 Bedroom 1/1 $1,600 $2.85 $1,330 2 Bedrooms 0/0 $0 $0.00 $1,868 3+ Bedrooms 0/0 $0 $0.00 $3,025 Studio 0/0 $0 $0.00 $1,677 $1,638 1 Bedroom 35/3 $2,334 $3.15 $1,879 $1,908 2 Bedrooms 63/3 $2,742 $2.66 $2,268 $2,284 3+ Bedrooms 13/2 $2,727 $2.05 $8,000 $2,000 92019, 20, 21, 22, 90 Descanso Studio 0/0 $0 $0.00 1 Bedroom 0/0 $0 $0.00 2 Bedrooms 0/0 $0 $0.00 3+ Bedrooms 16/1 $1,675 $1.37 Studio 37/2 $997 $2.30 $885 $500 92019, 20, 21, 1 Bedroom 412/7 $1,360 $2.04 $1,242 $1,190 22, 90 El Cajon 2 Bedrooms 629/22 $1,587 $1.81 $1,512 $1,234 3+ Bedrooms 162/9 $1,922 $1.70 $1,847 $1,394 Studio 3/2 $1,000 $2.31 $900 $900 92023, 24 Encinitas 1 Bedroom 60/3 $1,579 $2.54 $1,630 $1,507 2 Bedrooms 82/4 $1,786 $1.94 $2,596 $1,992 3+ Bedrooms 4/4 $2,160 $1.99 $2,420 $1,850 Studio 1/1 $1,600 $3.20 $1,650 $1,600 92007 1 Bedroom 2/1 $1,700 $2.30 $1,633 $1,633 Cardiff By the Sea 2 Bedrooms 8/1 $2,300 $2.71 $2,436 $2,300 3+ Bedrooms 0/0 $0 $0.00 $0 $0 92025, 26, 27, 29, 30, 33, 46 Escondido Studio 0/0 $0 $0.00 $0 $985 1 Bedroom 164/7 $1,208 $1.73 $1,114 $983 2 Bedrooms 346/11 $1,630 $1.56 $1,302 $1,330 3+ Bedrooms 41/5 $2,465 $1.69 $1,689 $1,688 alowner December 2016 33
County of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type / Properties Surveyed Average Mo. Average / Sq. Foot Spring 2016 Average Mo. Fall 2015 Average Mo. 92028 91932, 33 91941, 42, 43, 44 92040 91940, 45, 46 91950, 51 92049, 50, 51, 52, 54, 56, 57, 58 92064, 74 92065 92069, 73, 76, 77, 78, 79 92071, 72 Studio 16/1 $880 $2.12 $831 $762 Fallbrook / Rainbow 1 Bedroom 24/1 $966 $1.53 $945 $877 2 Bedrooms 8/1 $1,243 $1.31 $1,098 $1,080 3+ Bedrooms 0/0 $0 $0.00 $0 $0 Studio 37/1 $1,213 $2.76 $1,267 $1,084 Imperial Beach 1 Bedroom 20/4 $1,138 $1.70 $1,043 $1,003 2 Bedrooms 69/4 $1,376 $1.71 $1,308 $1,316 3+ Bedrooms 7/3 $1,593 $1.50 $1,500 $1,552 Studio 0/0 $0 $0.00 $829 $787 La Mesa 1 Bedroom 526/7 $1,677 $2.40 $1,467 $1,373 2 Bedrooms 641/10 $1,991 $1.87 $1,748 $1,702 3+ Bedrooms 117/3 $2,234 $1.67 $2,186 $1,991 Studio 0/0 $0 $0.00 $675 $675 Lakeside 1 Bedroom 0/0 $0 $0.00 $800 $867 2 Bedrooms 5/3 $1,295 $1.37 $1,121 $1,303 3+ Bedrooms 0/0 $0 $0.00 $1,439 $1,300 Studio 0/0 $0 $0.00 $895 $895 Lemon Grove 1 Bedroom 1/1 $895 $1.38 $757 $0 2 Bedrooms 4/3 $1,525 $1.68 $1,243 $1,265 3+ Bedrooms 2/2 $1,598 $1.37 $1,634 $1,566 Studio 0/0 $0 $0.00 $795 $793 National City 1 Bedroom 0/0 $0 $0.00 $895 $883 2 Bedrooms 0/0 $0 $0.00 $1,209 $1,081 3+ Bedrooms 1/1 $2,300 $1.44 $1,600 $1,600 Studio 45/6 $1,092 $2.50 $1,058 $950 Oceanside 1 Bedroom 353/12 $1,317 $2.06 $1,265 $1,223 2 Bedrooms 478/14 $1,673 $1.81 $1,621 $1,594 3+ Bedrooms 3/3 $2,950 $1.53 $1,798 $1,708 Studio $0 $0 Poway 1 Bedroom $1,258 $1,285 2 Bedrooms $1,450 $1,451 3+ Bedrooms $1,725 $1,700 Studio $0 Ramona 1 Bedroom $0 2 Bedrooms $1,150 3+ Bedrooms $1,432 Studio 3/1 $647 $1.08 $0 $0 San Marcos 1 Bedroom 259/4 $1,340 $2.12 $1,278 $1,321 2 Bedrooms 367/5 $1,420 $1.51 $1,406 $1,487 3+ Bedrooms 0/0 $0 $0.00 $1,990 $0 Santee 1 Bedroom 160/2 $1,391 $2.19 $1,273 $1,160 2 Bedrooms 429/6 $1,659 $1.82 $1,552 $1,520 3+ Bedrooms 23/3 $1,901 $1.71 $1,805 $1,741 34 alowner December 2016
92075 91976, 77, 78, 79 92082 92081, 83, 84, 85 County of San Diego Weighted Average s by Community & Unit Type Zip Code(s) City/Area Name Unit Type Solana Beach Spring Valley Valley Center Vista / Properties Surveyed Average Mo. Average / Sq. Foot Spring 2016 Average Mo. Studio 6/1 $1,000 $2.50 $995 $950 1 Bedroom 78/2 $1,865 $2.76 $1,425 $1,728 2 Bedrooms 97/2 $2,127 $2.31 $1,750 $1,974 3+ Bedrooms 8/1 $2,542 $2.42 $3,300 $2,368 1 Bedroom 79/5 $1,200 $1.78 $1,200 $1,155 2 Bedrooms 275/8 $1,503 $1.72 $1,422 $1,399 3+ Bedrooms 38/4 $1,799 $1.66 $1,771 $1,784 Studio $0 1 Bedroom $750 2 Bedrooms $1,000 3+ Bedrooms $1,180 Fall 2015 Average Mo. Studio 142/4 $995 $2.06 $1,097 $1,020 1 Bedroom 835/8 $1,586 $2.12 $1,364 $1,323 2 Bedrooms 952/15 $1,714 $1.76 $1,547 $1,519 3+ Bedrooms 186/7 $1,926 $1.70 $1,730 $1,801 alowner December 2016 35
Size of Vacancy Report by Unit Type - Property Age (Single Family ) All Over 25 Years 6 to 25 Years Less Than 6 Years Property Age Undefined Studio 0.0% 1 0 0.0% 1 0 0.0% 0 0 0.0% 0 0 0.0% 0 0 1 Bedroom 50.0% 2 1 0.0% 0 0 0.0% 0 0 0.0% 0 0 50.0% 2 1 2 bedrooms 0.0% 35 0 0.0% 31 0 0.0% 0 0 0.0% 0 0 0.0% 4 0 3+ Bedrooms 2.6% 38 1 0.0% 31 0 0.0% 5 0 0.0% 0 0 50.0% 2 1 Vacancy Report By Region (Single Family ) Location Age of Property East County North County City of San Diego South Bay Less than 6 years 0.0% 0 0 6-25 years 0.0% 0 0 Over 25 Years 0.0% 6 0 Age Undefined 50.0% 2 1 12.5% 8 1 Less than 6 years 0.0% 0 0 6-25 years 0.0% 2 0 Over 25 Years 0.0% 10 0 Age Undefined 0.0% 0 0 0.0% 12 0 Less than 6 years 0.0% 0 0 6-25 years 0.0% 0 0 Over 25 Years 0.0% 39 0 Age Undefined 100.0% 1 1 2.5% 40 1 Less than 6 years 0.0% 0 0 6-25 years 0.0% 3 0 Over 25 Years 0.0% 8 0 Age Undefined 0.0% 5 0 0.0% 16 0 Countywide 2.6% 76 2 Vacancy Report By County/City (Single Family ) Location Age of Property County of San Diego Less than 6 years 0.0% 0 0 6-25 years 0.0% 5 0 Over 25 years 0.0% 24 0 Age Undefined 14.3% 7 1 2.8% 36 1 City of San Diego Less than 6 years 0.0% 0 0 6-25 years 0.0% 0 0 Over 25 years 0.0% 39 0 Age Undefined 100.0% 1 1 2.5% 40 1 Countywide 2.6% 76 2 36 alowner December 2016
The SDCAA Apartment Availability Index rate is 5.88%. The Apartment Availability Index Survey pulls from a sample of full-time rental property owners and managers to determine the number of vacant units as well as the number of units on notice to vacate, representing the total number of units available. The results can be an early indicator of industry activity and provide another gauge of the overall availability of rental housing in San Diego County. This survey is supplemental to the Vacancy and al Rate Survey. The SDCAA solicited 25 of the largest multifamily owners and managers with holdings in San Diego County to complete the survey. Due to the fluctuating response levels of this methodology, comparisons among survey periods do not necessarily reflect the performance of a particular sample of rental units over time. Responses were collected and calculated by the accounting firm Leaf & Cole, LLP. SPRING 2016 SAN DIEGO COUNTY AVAILABILITY INDEX Survey Period Availability of Index Managed Spring 2007 14.2% 36,540 Fall 2007 8.6% 27,084 Spring 2008 10.25% 27,055 With Notices to Vacate Survey data collected as combined figures. 1 Fall 2008 5.98% 27,562 2.70% 3.29% Spring 2009 8.17% 20,647 4.02% 4.15% Fall 2009 7.43% 39,375 3.66% 3.77% Spring 2010 6.71% 33,394 4.14% 2.57% Fall 2010 6.77% 24,619 3.10% 3.67% Spring 2011 6.55% 15,105 2.88% 3.67% Fall 2011 5.56% 15,567 1.95% 3.60% Spring 2012 7.19% 23,243 3.77% 3.42% Fall 2012 6.00% 16,864 2.75% 3.25% Spring 2013 6.50% 21,302 3.30% 3.20% Fall 2013 5.56% 23,146 2.61% 2.95% Spring 2014 10.37% 13,584 3.40% 6.96% Fall 2014 5.40% 18,578 2.70% 2.70% Spring 2015 5.25% 8,735 2.26% 3.00% Fall 2015 6.57% 10,288 2.39% 4.18% Spring 2016 7.38% 29,181 3.88% 3.50% 5.88% 32,335 2.93% 2.94% 1 In spring 2007, the SDCAA began allowing survey respondents to report the combined number of units vacant and on notice in order to make reporting easier and encourage responses. The SDCAA received requests from members to return to the prior method of reporting the figures separately to better analyze market fluctuations. 38 alowner December 2016