SAN DIEGO — With homebuying at all-time high prices, many people have settled for renting.
Renter-occupied housing units have increased to 44 million in 2022, which is up from 40 million 10 years ago, according to Forbes Advisor.
However, renting during this time is also a pricey alternative in some U.S. cities.
Forbes Advisor recently conducted a report analyzing the 96 big U.S. cities across 23 metrics, including rental prices, sizes, affordability, amenities and neighborhood features. San Diego ranked as the No. 14 worst city for renters in 2023.
The average rent price for a one-bedroom apartment in San Diego is $2,012.00, per Forbes Advisor. The report found that 52.78% of households spend 30% of their income or more on rent, compared to the study average of 50%.
San Diego placed the third-highest in rental prices for one-bedroom apartment while two-bedroom apartments ranked ninth-highest, the study said.
America’s Finest City was not so fine when it came to the percentage of units with a pool. The findings revealed that San Diego is the 18th worst city by this metric, with only 25% of available rentals in San Diego offering a pool.
Seven other California cities made Forbes’ worst renters list including Riverside, San Bernardino, Santa Ana, Long Beach, Los Angeles, Bakersfield and Stockton.
San Diego also recently ranked as the most expensive place to live in the country, according to U.S. News & World Report. It earned a “value score” of 3.3 in their data analysis to help figure out the best cities to settle down.