X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO, CA-The San Diego apartment market continues to hold its own as one of the hottest multifamily markets in California. One of the latest reports on the region says the area experienced net move-ins at 1,040 units in the second quarter of 2002.

The report, published by Hendricks & Partners, points out that the figure marks a significant change from the same period last year, when the number of net move-ins was recorded as 133 units. It goes on to say that the region remains in the top ten for the lowest vacancy rates of the US metro apartment markets for the second quarter. However, the overall vacancy rate has risen slightly from 3.1% in the second quarter of last year to 3.9% in the same period this year.

Rents continue to grow steadily, as Hendricks & Partners reports a 4.6% jump in the average market rent from $1,056 to $1,105 over the one-year period ending June 2002. “The I-15 Corridor submarket maintained the largest annual average rent growth descent from 11.8% to 1.0%, while the South Bay submarket continued to excel with 9.9% growth over the last year,” the report adds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.