Renters looking to stretch their earnings might try El Cajon, according to a report by Zumper, a rental property search firm.
San Diego ranked as the fifth most expensive city for renters among 15 San Diego County cities surveyed this month by Zumper, with rents remaining flat at $1,650 a month for one-bedroom apartments and declining 2.2 percent to $2,250 for two-bedroom apartments.
By comparison, El Cajon was a bargain with November monthly rents pegged at $1,250 for one-bedroom apartments - a 3.8 percent drop from October. Two-bedroom apartments were priced at $1,480 a month, a 1.4 percent increase over October.
Budget renters might do well to skip Coronado, which had the highest rents in the county, according to Zumper.
One-bedroom apartments rented for $3,290 a month in Coronado and two-bedroom apartments went for $3,920 a month.
Solana Beach, as the second most expensive rental market in the county, was no bargain either, with November monthly rents at $2,410 for one-bedroom apartments and $3,710 for two-bedroom units.
“In terms of rent prices, I think Coronado and Solana Beach are experiencing a similar trend,” said Crystal Chen, Zumper marketing manager.
“Both of these cities are extremely expensive in the metro (area),” Chen said, with apartment rental rates more than $500 over what they are in other San Diego County cities and median home prices topping $1 million in Coronado and close to $1 million in Solana Beach.
The result is that “renters are being priced out and are looking for less expensive, neighboring areas,” Chen said. “This drives up prices in these close-by cities since the demand has shifted.”
For instance, rents are up nearly 10 percent for the year in Encinitas, Solana Beach’s next door neighbor.
One bedroom apartments in Encinitas were going for $1,730 in November and two-bedroom apartments for $2,800.
Just up the road, November monthly rents in Carlsbad were reported by Zumper at $1,840 for one-bedroom apartments and $2,340 for two-bedroom apartment.
In declining order, cities with lower monthly rents in November were San Diego, Poway, San Marcos, Oceanside, Vista, La Mesa, Escondido, Chula Vista, National City, Imperial Beach and El Cajon.