September 2026
San Diego’s rental market is showing signs of stabilization as we head into the fall. After several years of significant rent increases, current data shows a more balanced market, with rents generally holding steady while renters have more options than they did during the tightest periods of the market.
September 2026: A More Stable Rental Market
Current rental data varies depending on the source and the type of properties being measured, but the overall trend is relatively consistent: San Diego rents are stable, with modest changes compared with last year.
Apartment List reports a September median rent of approximately $2,313 for San Diego, with one-bedroom units around $1,972 and two-bedroom units around $2,471. The report shows rents essentially flat year over year. (Apartment List)
Other rental data sources measure a broader selection of properties and report higher figures. RentCafe places the average San Diego apartment rent at approximately $3,046, up 2.3% from the previous year. Its data shows average rents of approximately $2,722 for a one-bedroom, $3,351 for a two-bedroom, and $4,040 for a three-bedroom apartment. (RentCafe)
Zillow’s September data puts the average rent across all bedrooms and property types at approximately $3,100, with the figure essentially unchanged from both the previous month and the previous year. (Zillow)
These differences highlight an important point for San Diego property owners: there is no single rental price that represents the entire market. Location, property type, condition, amenities, bedroom count, and neighborhood can all have a significant impact on achievable rent.
More Rental Supply Is Giving Tenants More Choices
One of the biggest changes in the San Diego rental market is the amount of new multifamily housing being delivered.
Northmarq reports that approximately 6,400 multifamily units are expected to be completed in 2026, nearly twice the market’s long-term annual average. More than half of those units are expected in the Balboa Park and Mission Valley areas. (NorthMarq)
The increased supply is contributing to higher vacancy in some parts of the market. CoStar data reported in July showed San Diego’s apartment vacancy rate reaching approximately 6.1%–6.2%, a significant increase from the exceptionally tight conditions seen earlier in the decade. (OB Rag)
For renters, additional inventory can mean more choices and potentially more negotiating room. For owners, it means that pricing a property correctly and keeping it competitive is increasingly important.
What This Means for San Diego Property Owners
The current market rewards owners who pay attention to the condition and presentation of their rental properties.
A property that is clean, well-maintained, competitively priced, and marketed with quality photos may have an easier time attracting qualified applicants than a comparable property that is priced above current market expectations or needs significant updates.
Owners should also pay attention to how quickly comparable properties are renting. If similar homes or apartments are sitting vacant for several weeks, it may be a sign that the asking rent, condition, marketing, or some combination of those factors needs to be reviewed.
October 2026 Rental Market Outlook
Looking toward October, we expect the San Diego rental market to remain relatively stable rather than experience a dramatic month-to-month change.
Nationally, Zillow’s September forecast calls for 2.1% year-over-year multifamily rent growth in the fourth quarter of 2026, while its full-year forecast calls for 1.7% multifamily rent growth. (Zillow)
San Diego’s large supply of new apartments could continue to put pressure on vacancy, particularly in neighborhoods receiving significant new construction. At the same time, employment growth is providing support for renter demand. Northmarq expects San Diego rents to hold around current levels or increase modestly, while vacancy may remain affected by the influx of new units. (NorthMarq)
For October, this points toward a market where renters may continue to have more choices, while property owners will need to remain competitive.
Looking Ahead
San Diego remains a high-cost rental market, but the current environment is different from the extremely competitive conditions seen several years ago.
For property owners, the focus heading into October should be on:
- Reviewing rental rates against comparable properties
- Keeping units well-maintained and move-in ready
- Responding quickly to maintenance concerns
- Using strong marketing and professional property photos
- Monitoring vacancy and days on market
- Evaluating whether improvements can help a property remain competitive
For renters, increased inventory may provide more opportunities to compare properties, locations, amenities, and rental prices before making a decision.
The San Diego rental market continues to evolve, and local conditions can vary significantly from one neighborhood to another. A property-specific rental analysis remains the best way to determine an appropriate asking rent.
Market data referenced in this article was reviewed in September 2026. Rental figures vary by data provider, property type, and methodology and should be considered market indicators rather than guaranteed rental values.
Works Cited
Apartment List. “San Diego, CA Rent Report: September 2026.” Apartment List, Sept. 2026.
CoStar. Ohl, Joshua. “Apartment Demand Shows Signs of Improvement in San Diego.” CoStar, 17 Sept. 2026.
Northmarq. “Employment Gains Support Fundamentals for San Diego’s Multifamily Market: Q2 2026.” Northmarq, 22 July 2026.
Realtor.com. “San Diego, CA Housing Market & Rental Trends.” Realtor.com Economic Research, Sept. 2026.
Northmarq. “2026 Midyear National Multifamily Report: Property Fundamentals Improving, but Investment Activity Struggles to Gain Momentum.” Northmarq, 16 Sept. 2026.
