San Diego, Calif.
— Furnished apartment sales in the San Diego area have been booming over the past few years, but there’s still plenty of room for renters with the demand for affordable housing still outstripping supply.
A recent survey conducted by San Diego-based rental site Rentrak shows that a whopping 10% of renters who live in the city rent furnished apartments, a number that has tripled over the last year.
Rentrak found that there are nearly 6,000 listings for furnished apartments on the site, with the average price for one-bedroom rentals in San Diego at $2,000.
That’s up from $1-1,300 in 2017.
But the median price for two-bedroom rental properties in San Francisco, where Rentrak was conducted, is $1.9 million, while a three-bedroom in Los Angeles costs $2.4 million.
While the median rent for two bedroom units in San Jose is $2 million, a one-bed in Santa Clara costs $1 million.
In San Diego in the last five years, there have been more than 500 one- and two-bed furnished apartments available.
Rents have also gone up in some other parts of the state.
In Los Angeles County, rent prices rose by 11% in the first six months of 2017, according to Rentrak.