San Diego's population reached approximately 3.3 million in the fourth quarter of 2026, reflecting a year-over-year growth rate of about 0.88%. This marks a slight increase from the previous year, reversing a trend of population decline observed from 2022 to 2024. The region's median household income stands at $109,132, while the unemployment rate is reported at 5.1%. With net migration contributing 31,374 new residents, the demand for housing remains robust, supported by a renter share of 45.6% and an employment base of over 1.6 million.
In the multifamily sector, HUD Fair Market Rents indicate a median gross rent of $2,336, which aligns with the asking rents for various unit types, including $2,145 for studios and $2,881 for two-bedroom apartments. Year-over-year multifamily rent growth is recorded at 2.5%, slightly below the national median growth rate of 3.5%. The current rental environment suggests a moderate level of affordability, with rents continuing to rise but at a pace that may challenge some renters, particularly in the context of the region's income levels.
Capital markets in San Diego have shown resilience over the trailing 24 months, with 738 transactions totaling approximately $3.35 billion in dollar volume and a median price per unit of $420,000. The multifamily cap rate remains at 4.23%, which is about 281 basis points tighter than the national median of 7.04%. This reflects a strong investor appetite for multifamily assets in the region. As reported by CBRE Research, the overall market dynamics suggest continued interest in multifamily properties, although potential headwinds from rising interest rates may impact future investment strategies.
Figures assembled automatically from public property records, third-party listing feeds, licensed market data, and federal sources (HUD, Census, BLS).
Marcus & Millichap arranged the sale of Canyon Villas, a 122-unit, 122-operating bed, independent living, assisted living and memory care facility with 133 licensed beds in the Clairemont neighborhood of San Diego. Pricing was not disclosed. “Our marketing process on Canyon Villas generated multiple high-quality offers and provided the buyer…
SAN DIEGO — PCCP has provided a $41 million senior loan to refinance Tenney North Park, a 125-unit apartment building at 2260 El Cajon Blvd. in San Diego’s North Park submarket. The loan was provided on behalf of ownership and developer, Foulger-Pratt, and refinanced an existing construction loan. Built in…
The nation’s largest life sciences hubs are still struggling with elevated real estate vacancy rates and a slowdown in venture capital funding. Despite some pharmaceutical companies making big leasing commitments, Greater Boston, the San Francisco Bay Area and San Diego County have vacancies ranging from nearly 24 percent to more…
PCCP has provided a $41-million senior loan to refinance Tenney North Park, a newly constructed, 125-unit multifamily property with ground-floor retail in San Diego’s North Park submarket. The loan was provided on behalf of owner and developer Foulger-Pratt and refinanced an existing construction loan. Built in 2025, Tenney North Park…
The San Francisco Bay Area’s life science construction pipeline has shrunk to 800,000 square feet while San Diego and Seattle have none underway, according to Savills, leaving West Coast lab landlords to fight over 20.7 million square feet of available space with no new supply coming to either relieve or…
National Institutes of Health funding to Bay Area researchers slipped to $1.3 billion in the fiscal year that ended Sept. 30, part of a West Coast pullback Savills also tracked in San Diego and Seattle that puts university and nonprofit institute tenants, and the lab landlords that house them, at…
Recent transactions highlight investor confidence in San Diego's life sciences sector and ongoing activity in affordable housing.
| Sold | Address | Type | Units | Price | $/Unit |
|---|---|---|---|---|---|
| 2025-12-16 | 6621 Montezuma Rd, San Diego, CA 92115 | Multifamily | 48 | $14.8M | $307,292 |
| 2025-12-01 | 462 Davidson St, Chula Vista, CA 91910 | Multifamily | 6 | $2.4M | $400,000 |
| 2025-11-12 | 215 S Lincoln Ave, El Cajon, CA 92020 | Multifamily | 40 | $12.0M | $300,000 |
| 2025-11-05 | 553-555 Flower St, Chula Vista, CA 91910 | Multifamily | 21 | $4.8M | $226,190 |
| 2025-11-05 | 510 Davidson St, Chula Vista, CA 91910 | Multifamily | 18 | $4.8M | $263,889 |
| 2025-10-27 | 481 Palm Ave Unit 9, Imperial Beach, CA 91932 | Multifamily | 10 | $3.6M | $360,000 |
| 2025-10-27 | 3171-3175 K St, San Diego, CA 92102 | Multifamily | — | $1.3M | — |
| 2025-09-16 | 258 Date Ave, Imperial Beach, CA 91932 | Multifamily | 9 | $3.3M | $369,444 |
| 2025-07-01 | 3864 35th St, San Diego, CA 92104 | Multifamily | 18 | $2.0M | $113,167 |
| 2025-06-20 | 786 Basswood Ave Unit F, Imperial Beach, CA 91932 | Multifamily | 8 | $3.4M | $425,000 |
| 2025-06-20 | 8105-19 Lemon Ave, La Mesa, CA 91941 | Multifamily | 8 | $2.5M | $307,983 |
| 2025-06-06 | 615 Florence St, Imperial Beach, CA 91932 | Multifamily | 5 | $2.2M | $435,000 |
| 2025-06-03 | 3458 Monroe Ave, San Diego, CA 92116 | Multifamily | 8 | $3.1M | $387,500 |
| 2025-06-01 | 564 Davidson St, Chula Vista, CA 91910 | Multifamily | 4 | $1.6M | $387,500 |
| 2025-06-01 | 579 Casselman St, Chula Vista, CA 91910 | Multifamily | 4 | $1.7M | $425,000 |
| 2025-05-23 | 619 11th St, Imperial Beach, CA 91932 | Multifamily | 8 | $2.3M | $284,375 |
| 2025-05-16 | 5305-07 Santa Margarita St, San Diego, CA 92114 | Multifamily | 2 | $908K | $453,750 |
| 2025-05-16 | 2809 Clay Ave, San Diego, CA 92113 | Multifamily | 4 | $930K | $232,500 |
| 2025-05-16 | 3676-3678 Jefferson St, Carlsbad, CA 92008 | Multifamily | — | $1.2M | — |
| 2025-05-16 | 2811 Clay Ave, San Diego, CA 92113 | Multifamily | — | $930K | — |
| 2025-05-15 | 1214 E 18th St, National City, CA 91950 | Multifamily | 4 | $1.2M | $300,000 |
| 2025-05-13 | 2410-2414 Island Ave, San Diego, CA 92102 | Multifamily | 2 | $1.2M | $590,000 |
| 2025-05-13 | 415 Gravilla St #21, La Jolla, CA 92037 | Multifamily | 4 | $589K | $147,250 |
| 2025-05-13 | 3905-3909 Cottonwood St, San Diego, CA 92113 | Multifamily | 2 | $755K | $377,500 |
| 2025-05-12 | 214 Avenida Cabrillo, San Clemente, CA 92672 | Multifamily | 3 | $1.9M | $638,000 |
| 2025-05-12 | 9211-13 Earl St, La Mesa, CA 91942 | Multifamily | 2 | $913K | $456,500 |
| 2025-05-11 | 5515-17 Lauretta St, San Diego, CA 92110 | Multifamily | 2 | $1.2M | $597,075 |
| 2025-05-09 | 2382 Primrose Ave, Vista, CA 92083 | Multifamily | 2 | $1.2M | $600,000 |
| 2025-05-09 | 1220-57 Armorlite Dr, San Marcos, CA 92069 | Multifamily | — | $1.5M | — |
| 2025-05-09 | 1221 Armorlite Dr, San Marcos, CA 92069 | Multifamily | — | $1.5M | — |
| 2025-05-09 | 4469-75 Altadena Ave, San Diego, CA 92115 | Multifamily | 1 | $1.5M | $1,460,000 |
| 2025-05-08 | 6801 El Fuerte St, Carlsbad, CA 92009 | Multifamily | 2 | $1.8M | $912,500 |
| 2025-05-08 | 1186-88 11th St, Imperial Beach, CA 91932 | Multifamily | 2 | $1.1M | $533,000 |
| 2025-05-08 | 1148 Oro Street, El Cajon, CA 92021 | Multifamily | 2 | $960K | $480,000 |
| 2025-05-08 | 7404-06 Monte Vista Ave, La Jolla, CA 92037 | Multifamily | 2 | $3.8M | $1,922,500 |
| 2025-05-07 | 9069-73 Rosedale Dr, Spring Valley, CA 91977 | Multifamily | 3 | $860K | $286,667 |
| 2025-05-07 | 228 Avenida Santa Barbara, San Clemente, CA 92672 | Multifamily | 1 | $1.7M | $1,695,000 |
| 2025-05-07 | 333 E 27th St, National City, CA 91950 | Multifamily | 3 | $670K | $223,167 |
| 2025-05-06 | 1221 Braddock St, San Diego, CA 92114 | Multifamily | — | $830K | — |
| 2025-05-06 | 1343-47 Grove Ave, Imperial Beach, CA 91932 | Multifamily | 6 | $2.4M | $403,333 |
| 2025-05-06 | 4264 51st St, San Diego, CA 92115 | Multifamily | 2 | $880K | $440,000 |
| 2025-05-06 | 3743-3749 Jewell St, San Diego, CA 92109 | Multifamily | 4 | $2.3M | $562,500 |
| 2025-05-05 | 129 27th St, San Diego, CA 92102 | Multifamily | 3 | $1.2M | $400,000 |
| 2025-05-05 | 350 Playa del Sur, La Jolla, CA 92037 | Multifamily | 16 | $8.7M | $540,625 |
| 2025-05-02 | 2778 National Ave, San Diego, CA 92113 | Multifamily | — | $685K | — |
| 2025-05-02 | 817-819 Niantic Ct, San Diego, CA 92109 | Multifamily | 3 | $1.5M | $500,000 |
| 2025-05-02 | 913 Grand Ave, Spring Valley, CA 91977 | Multifamily | 6 | $900K | $150,000 |
| 2025-05-02 | 1422 Dubuque St, Oceanside, CA 92058 | Multifamily | 3 | $1.1M | $353,333 |
| 2025-05-02 | 905 Washington Ave, El Cajon, CA 92020 | Multifamily | — | $650K | — |
| 2025-05-02 | 3940 Alta Loma Dr, Bonita, CA 91902 | Multifamily | 4 | $1.4M | $337,500 |
Recorded multifamily sales from public property records and third-party listing feeds over the trailing 24 months — a partial sample, not an exhaustive market index. Sources & methodology →
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