Cost of rent in San Diego went up in April

SAN DIEGO (FOX 5/KUSI) -- The cost of renting in San Diego rose again last month, following a nationwide trend, according to the latest report from Apartment List.

Data shows the current median rent in the San Diego market is just over $2,300. It increased 0.6% in April from the month before. According to Apartment List, the median rent for a one-bedroom in San Diego is $1,970 while a two-bedroom goes for about $2,470.

Meanwhile, the median rent for a one-bedroom in the U.S. is nearly $1,230 and about $1,380 for a two-bedroom. Apartment List named Irvine as the No. 1 most expensive place to rent in the U.S. with a median monthly price of $2,960.

The median rent in San Diego is 65% higher than the nationwide average, but it is similar to prices seen in other major cities like Boston and New York City.

As for cities outside of San Diego but within the same rental market, Oceanside is the most expensive place to rent with a median of $2,419. However, Vista is the most expensive city for people only wanting one-bedroom apartments, which have a median monthly rent of $2,025.

La Mesa is the most affordable city in San Diego for renters with a median rent of $2,091.

The methodology used by Apartment List included gathering the prices paid by renters, not the list prices for vacant rental units. It also looked at median rent statistics from the Census Bureau and captured apartment transactions over time to study the growth rate across the country. The full methodology can be found here.

The good news is, although they are on the upward trend, rent growth in San Diego has slowed compared to the years following the COVID-19 pandemic.

Month-over-month rent growth in San Diego ranked No. 39 out of 100 major U.S. cities, with Cleveland, Ohio at No. 1 (1.9%). Currently, the nationwide average rent growth is 0.5%.

Since January, rental costs in San Diego have gone up 1.4%, growing at a slower rate than when rents had increased 2.2% in the first four months of last year.