rent hikes

NEW CALIFORNIA LAW RESTRICTS RENT HIKES ON MANY PROPERTIES

Law applies to apartments over 15 years old, but mobile homes are not included. Many condos and single family homes are also exempt

By Miriam Raftery

October 8, 2019 (Sacramento) – Governor Gavin Newsom has signed Assembly Bill 1482 into law, which he says will provide “the nation’s strongest statewide renter protections.”

Starting January 1st, it will be illegal for many landlords in California to raise rents by more than five percent a year plus the local inflation rate (as measured by the Consumer Price Index).  San Diego’s inflation rate was 2.8 percent from January to June.  

RENTS RISING ACROSS SAN DIEGO AND EAST COUNTY

By Miriam Raftery

June 22, 2019 (San Diego’s East County) – The city of San Diego ranked second worst in the nation for rent hikes on  a one-bedroom apartment in 2018, at 17% with an average rent of $2,300, according to Rent.com. By contrast, the national average rent increase nationwide was 2.69% and California averaged a 4.48% increase in rents on one bedroom apartments during the same time period.

 

Rents are also skyrocketing in East County, where some communities had double digit rent hikes from March 2018 through March 2019 for 1 BR units:

Lemon Grove +15.66%

La Mesa +10.63%

El Cajon + 5.04%

Santee, by contrast, had only a modest 1.25% increase.

Spring Valley, the only unincorporated community in San Diego County with enough inventory to provide statistically valid data, had a 9.6% increase.