fbpx

rent squeeze

Do you wonder why the lower-end markets are so hot?

I spoke to a potential buyer yesterday who said he wanted to buy because his rent was so high.  He is paying $2,100 per month to rent a 2br apartment in Shadowridge.

He has lived there for less than a year, and the landlord just gave him notice that they are already raising it to $2,400 per month!

Are you kidding? $2,400 per month for a 2br apartment in Vista???

Here are the median monthly house rentals being advertised in the MLS:

Carlsbad: $4,495

Encinitas: $4,500

Carmel Valley: $4,600

Del Mar/SB: $6,400

La Jolla: $8,800

Rancho Santa Fe: $10,250

The landlords will have to endure more turnover, more repairs, and more all-around hassle as they keep pushing rents higher, but they will keep a fire lit under any tenants who can find a way to buy!

These higher rents should keep the lower-end of each market hopping!

Pin It on Pinterest