VALUED INSIGHTS

Invaluable Valuation Knowledge for the Real Estate Stakeholder

SERIES:
Multifamily Market Updates 2024
MARKET:
  1. Albuquerque MSA | NM
    2024  Q2 | Q3 | Q4
  2. Chicago MSA | IL
    2024  Q2 | Q3 | Q4
  3. Dallas MSA | TX
    2024  Q2 | Q3 | Q4
  4. Denver MSA | CO
    2024  Q2 | Q3 | Q4
  5. Flagstaff MSA | AZ
    2024  Q2 | Q3 | Q4
  6. Houston MSA | TX
    2024  Q2 | Q3 | Q4
  7. Las Vegas MSA | NV
    2024  Q2 | Q3 | Q4
  8. Los Angeles MSA | CA
    2024  Q2 | Q3 | Q4
  9. Orange County MSA | CA
    2024  Q2 | Q3 | Q4
  10. Phoenix MSA | AZ
    2024  Q2 | Q3 | Q4
  11. San Diego MSA | CA
    2024  Q2 | Q3 | Q4
  12. Tucson MSA | AZ
    2024  Q2 | Q3 | Q4
SERIES:
Multifamily Market Updates 2024
MARKET:

San Diego MSA | CA

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Author: Jason D. Beakley, Certified General Appraiser
Published: October 7, 2024

Population Trends
Supply
Demand
Population3,269,973
Total Housholds1,172,343
Percentage of Households in Income Band50.8%
Income Qualified Housholds Income Band595,199
Propensity of Renter Occupied Housing In Market Area With Income Brand52%
Existing Competetive Supply309,503
Under Construction / Proposed Units30,950
Total Projected Supply340,453
Income qualified Households (Current Demand)296,191
Plus Friction Vacancy @ 10%5,573
Total potential demand for units in Defined Income Brand301,764
Residual Demand38,689
Indicated Penetration Rate88.6%

Data sourced by Crexi, CoStar & US Census Bureau

Jason D. Beakley
CERTIFIED GENERAL APPRAISER
Director
+1-480-440-2842 EXT. 09
Population923,518
Total Housholds379,471
Percentage of Households in Income Band61.5%
Income Qualified Housholds Income Band233,375
Propensity of Renter Occupied Housing In Market Area With Income Brand41%
Existing Competetive Supply95,684
Under Construction / Proposed Units4,784
Total Projected Supply100,468
Income qualified Households (Current Demand)71,013
Plus Friction Vacancy @ 10%2,621
Total potential demand for units in Defined Income Brand73,634
Residual Demand26,834
Indicated Penetration Rate73.3%
Population Trends
Supply
Demand