San Diego Rent Prices Now Second Highest In U.S.

A new study found that San Diego County is the third least affordable region among large metro areas. The study was conducted by Porch, a home improvement and home buying website.

The website used Consumer Price Index (CPI) data, which measures prices for basic necessities like food, utilities, transportation, and housing. They found that the San Diego region ranked at the bottom of the list for places where your dollar goes the furthest. The city was only behind San Francisco and New York.

“People are really stressed as far as their quality of life is concerned,” Dr. Alan Gin, Economics Professor at the University of San Diego told CBS8. “They’re having to spend more and more money on housing, more and more money on other products as well. Gasoline, electricity, food, things like that, and as a result, they have less money to spend on other things.”

San Diego also has the second-highest median rent in the country. According to Realtor.com, the top three California cities with the highest median rent in the country are as follows:

#1- San Jose, Sunnyvale, Santa Clara at $3,024/month

#2 - San Diego at $3,008/month

#3 Los Angeles, Long Beach, Anaheim at $2,993/month

Click here to read the full study from Porch.