San Diego Multifamily Market Report – June 2025

Market Overview

‍The multifamily market in the San Diego region remains stable as we head into Q3 2025, with vacancy holding at approximately 5.4 percent and average asking rent near $2,500 per unit. Rent growth is still modest at just 0.2 percent year-over-year, and construction remains elevated with around 8,700 units under way. Despite the large pipeline, demand is holding firm and investors are cautious.

‍About Yardi Matrix

‍Yardi Matrix is a research-driven firm specialising in multifamily housing markets. Their San Diego market report brings together data on rents, occupancy, supply pipeline and investment trends to help owners, developers and investors assess timing, risk and strategy. To read the full report, click here.