San Diego Softening Rents

[Alex U.]

https://www.biggerpockets.com/blog/2024-rental-market-foreca...

Since July of 2023, rents seemed to have topped for the time being.  More units coming online, and more people sharing spaces due to a lack of affordability.  We have had to cut rent for new units 8% from the previous lease.  This could be seasonality.  We saw rents go up 50% between Mid 2020 - 2023, at some points rents will revert to a long-term mean graph.