Despite a weakening economy, rental rates in San Diego County are up 4 percent from a year ago, fueled in part by strong demand as fewer people buy homes and mushrooming foreclosures turn homeowners into renters.
A survey of nearly 800 apartment complexes of 25 units or more revealed that the average monthly rent this month was $1,311, up $50 compared with a year ago, according to MarketPointe Realty Advisors, which released its semiannual report yesterday. In September, the average rent was $1,291.
Meanwhile, the vacancy rate stood at 3.6 percent, which is about a percentage point less than it was a year ago.
