San Diego Apartment Building, Vacancies Up
New apartment construction in San Diego County is running ahead of that in the first half of 1984, while the apartment vacancy rate is nearly double that of last fall.
A tabulation of apartment construction just completed by John Burnham & Co. shows a 45% jump in permit valuations for the first six months of this year over the first half of last year, $202,377,907 compared to $139,822,985.
In numbers of dwelling units, this year’s permits translated into 6,126 new apartments added to the market stock so far in 1985, compared to 3,940 in the first half of last year, a rise of 55%.
The San Diego Apartment Assn.’s biennial survey of 30,555 rental units found a great increase in the supply of rental housing and also 922 vacancies overall, a rate in the city of San Diego of 4.7%, up from the 2.3% reported last fall.
Vacancy rates in other San Diego City communities were: North Park, 9.6%; Clairemont, 6.7%; Point Loma, 6.4%; Ocean Beach, 4.3%; East San Diego, 3.7%, and Pacific Beach, 3.6%. Communities in county areas ranged from a low of 0.9% in Del Mar to a high of 9.7% in El Cajon.
