The search for a reasonably-priced apartment in San Diego - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

The search for a reasonably-priced apartment in San Diego

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SAN DIEGO (CBS 8) - San Diego has the beaches, the mountains, the oceans and plenty of sunshine, but the city also has some of the highest rents in the nation.

Dr. Alan Gin, an economy professor at the University of San Diego, said it's the classic case of supply and demand.

"The problem that we have in San Diego is that there is just a limited supply of land right now where you can build. What has happened is as the economy has gotten better, people who have doubled up before have roommates. People who lived with their parents are now trying to get apartments of their own," said Dr. Gin.

According to rentjungle.com, the average price of rent in San Diego for a one bedroom is $1,765, and over $2,200 -a-month for a two-bedroom.

Dr. Gin explains that more renters are vying for housing, driving the supply down and rent prices up. "the high cost of home ownership is forcing people to rent, instead of buy - increasing the demand for apartment," said Dr. Gin.

The highest rent in San Diego was reported in La Jolla at just over $3,600, followed by Little Italy at $2,885 - with Paradise Hills at the bottom, at $1,300-a-month.

Dr. Gin said the least expensive places to rent are the outskirts of San Diego.

"The cheapest housing tends to be inland, or east county, farther south, in the Southbay - you can get some affordable housing there," he said.

The final option would be to move out California altogether.

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