Student housing pricing going up!
Pacific Beach is a great neighborhood, especially for students. The proximity to the beach, nightlife, and the laid-back vibe make it the right place to have fun and socialize. But, have you guys noticed that rent is really going up? Here is what's been going on:
AVA Remodeling. The Avalon Apartment Complex on Ingraham st went through a huge remodel. It's now rebranded as an AVA community. In 2014, you could get a 2bed/2bath for $1800-$2100/month (unfurnished). In January 2015, rent went up to $2100-$2400/month!!! The place looks great now, but you have to spend $100 to $300 more per month to live there. Unfortunately, the other complexes - though old and not remodeled - are also raising their prices.
No vacancies. The vacancy rate in San Diego is around 3.5% (2015). That''s very low. There are too many people renting and not enough places to rent. The law of supply and demand works very well here and the price of renting is definitely going up. In Pacific Beach, it seems to be even worth since it's so popular with travelers. Here is a Union Tribune article explaining it all better than me! Why your rent won't stop rising
At San Diego Student Housing, we love Pacific Beach and think it's one of the best neighborhoods for students attending UCSD, USD, Mesa College, and even SDSU. We are just sad to see prices going up while students do not seem to be making more money. To all the students coming this Summer for an internship, work, or a summer class: "Be ready to increase your budget or to reduce your expectations to a shared bedroom or a place further away from the beach!"