Apartments all over San Diego are in high demand by investors. Stone Creek Apartments in the Chula Vista submarket recently sold for $35 million. | Courtesy Colliers International

San Diego’s Most Expensive Zip Codes

Carrie Rossenfeld Multifamily

While San Diego did not make RENTCafé’s list of the most expensive apartment-rent zip codes in the country (most of them are in Manhattan, the Bay Area, and Los Angeles, according to the firm), the market’s rental rates have been climbing.

RENTCafé’s sister division, Yardi Matrix, did an analysis for SoCal Real Estate on the most expensive apartment zip codes in San Diego and found the 92130 zip code topped the list at $2,919 per month in average rent, a 4.8 percent year-over-year change. The 92110 zip code was next at $2,788 per month, a 1 percent year-over-year change, followed by 92101 at $2,510 per month, a 2 percent year-over-year change.

Going down the list, 92122 was next at $2,437 per month, a 1.4 percent change; 92128 at $2,429, a 2.6 percent change; 92103 at $2,424, a 2.5 percent change; 92108 at $2,365, a 4.8 percent change; 92123 at $2,331, a 4.3 percent change; 92126 at $2,273, a 4.5 percent change; and 92115 at $2,222, a 5.2 percent change.

“The priciest zip code for renters in San Diego is Carmel Valley’s 92130,” Balazs Szekely, real estate writer and researcher at Yardi Matrix, tells us. “The area witnessed a rental-apartment boom, with almost 1,000 units having been delivered here over the past five years.”

Szekely also says it’s worth mentioning that none of the most expensive zip codes in San Diego saw rents drop since last year. “In fact, rents increased by 2 percent or more in eight of them, and zip code 92115, located in Rolando, exhibited a rather significant rent growth of over 5 percent year-over-year.”

As we recently reported, Downtown San Diego has one of the highest rental rates in the county at $2,479 per month, according to a release from a representative of JLL. The overall county is at $1,793 per month, the release says, adding that the high rates are primarily due to all the new product that has become available in the submarket. The Downtown area has also seen the most population percentage growth in recent years, with developers adding nearly 5,600 new condo and apartment units since 2010, the report says.