The San Diego Rental Market in 2026: What Owners Should Know

Reviewed by Brendan McKee, Managing Broker, DRE #01882732, on October 21, 2026.

As of fall 2026, San Diego asking rents are roughly flat to slightly up: Zillow's index of typical asking rents for the City of San Diego was $3,004 in September 2026, 2.2% higher than a year earlier, and unchanged from August. About half of occupied homes in the City are rented, and the Census puts the City's rental vacancy at about 5%. The rules matter as much as the numbers: a rent cap, City tenant protections from day one, short-term rental license caps and a temporary emergency limit on rent all shape what owners can charge and how they operate.

Key takeaways

• Asking rents in the City of San Diego rose 2.2% from September 2025 to September 2026 (Zillow), with no change from August to September.
• HUD's Fair Market Rents for San Diego County, effective October 1, 2026, are lower than last year for every bedroom size.
• About 53% of occupied homes in the City of San Diego are rented (Census ACS 2024).
• New Census figures are due October 29, 2026; check for updates after that date.
• As of October 2026, a state of emergency generally limits rent to 10% above pre-emergency levels across San Diego County.
• Different sources measure different things; never compare one source's figure to another's as if they were the same.

Rent figures, with dates

Each of these comes from a public source and describes a different thing.

A few cautions:

• Zillow's index is not a median for any home size. It tracks typical asking rents across apartments, condos and houses. A large house can rent above it and a studio below it.
• The Census median is lower because it includes tenants who have been in place for years at older rents.
• The City's vacancy figure has a wide margin of error, which is why it is rounded to about 5%.
• The 2025 Census release is scheduled for October 29, 2026. Until then, 2024 is the latest year.

Private sources report their own figures. Kidder Mathews, using CoStar data, reported 5.5% vacancy and an average asking rent of $2,453 for San Diego multifamily in Q2 2026. Apartment List reported a City of San Diego median rent of $2,313 in September 2026, flat from a year earlier. These cover different property sets and methods than Zillow or the Census.

HUD Fair Market Rents and voucher benchmarks

HUD's FY2027 Fair Market Rents for San Diego County took effect October 1, 2026. They are estimates of 40th percentile gross rents (rent plus utilities) for standard-quality units, used for housing programs. They are not market medians.

The FY2027 figures are 4% to 7% lower than FY2026, depending on bedroom count. For Housing Choice Vouchers, San Diego uses Small Area Fair Market Rents set by ZIP code, which vary widely. HUD's FY2027 two-bedroom figure is $4,090 in ZIP 92101 (Downtown) and $2,650 in 92115 (College Area). Local housing authorities set their own payment standards from these. California protects source of income, including vouchers (Gov. Code § 12955(p)), so voucher holders are part of every owner's applicant pool.

The rules that shape the market

Several rules affect how San Diego owners price and operate, and each has a defined area.

• Rent cap, all of California. AB 1482 (Civ. Code § 1947.12) caps increases for most tenancies at 5% plus local inflation, or 10%, whichever is lower. For the San Diego area that is 8.2% for increases from August 1, 2026 through July 31, 2027.
• Emergency rent limit, San Diego County. As of October 2026, a state of emergency after Tropical Storm Rachel triggers Penal Code § 396, which generally bars advertising, offering or charging rent more than 10% above the pre-emergency amount, including at turnover. It is stated to run through November 14, 2026; check whether it has been extended.
• Just cause from day one, City of San Diego. The Tenant Protection Ordinance (SDMC §§ 98.0701 to 98.0710) requires just cause for any tenancy longer than 30 days and two or three months of relocation for no-fault endings. Chula Vista (CVMC 9.65) and Imperial Beach (IBMC 9.90) have their own ordinances. The unincorporated County follows state law.
• Short-term rental caps, City of San Diego. Whole-home licenses outside Mission Beach (Tier 3) are capped at 1% of the City's total housing units outside the Mission Beach planning area; as of October 9, 2026, 4,859 were issued and 802 remained. Mission Beach whole-home licenses (Tier 4) had none remaining. ADUs cannot be used as short-term rentals.
• ADU rules, City of San Diego. ADUs may not be rented for less than 31 consecutive days. Since August 22, 2025, outside the Coastal Zone, ADUs can be converted to condominiums and sold separately, and under the ADU bonus program, single-family lots are capped at 4, 5 or 6 total ADUs and JADUs depending on lot size. Those changes are pending in the Coastal Zone.

The rent increases in San Diego guide covers the cap and notices, and California's rent increase cap explains the statute.

Vacancy: rental versus all housing

You may see two kinds of vacancy figures. The Census rental vacancy rate (about 5% in the City and 4.3% in the County, 2024) counts homes for rent. The California Department of Finance publishes a vacancy rate for all housing, including seasonal and for-sale homes: 6.73% for the City and 6.00% for the County as of January 1, 2026 (provisional). They measure different things and should not be compared.

What this means for an individual owner

Market averages tell you the direction, not your price. A home's rent depends on its own comparables, condition and features; how much rent a San Diego home can get explains the method. If you are considering a purchase, buying a rental property in San Diego covers the rule checks to make first. For an overview of management services, see San Diego property management.

This guide does not forecast rents. This is general information, not legal or tax advice. Confirm the details for your situation with a California attorney or tax professional.

Frequently asked questions

Are rents going up in San Diego in 2026?

Modestly, by the most recent public index. Zillow's typical asking rent for the City of San Diego was $3,004 in September 2026, up 2.2% from September 2025, and flat from August 2026. HUD's program benchmarks for October 2026 went down. Neither is a forecast.

What is the average rent in San Diego?

It depends on the source. Zillow's typical asking rent was $3,004 for the City and $2,967 for the metro in September 2026. The Census ACS 2024 median gross rent, which includes long-time tenants and utilities, was $2,414 for the City and $2,336 for the County. Your home's rent depends on its own comparables.

What is the rental vacancy rate in San Diego?

The Census ACS 2024 1-year data put rental vacancy at about 5% in the City of San Diego and about 4.3% in San Diego County. The City figure has a wide margin of error. New Census data are scheduled for release on October 29, 2026.

How much can landlords raise rent in San Diego right now?

For most tenancies, AB 1482 caps increases at 8.2% for those taking effect August 1, 2026 through July 31, 2027 in the San Diego area. As of October 2026, the state of emergency also means Penal Code § 396 generally bars rent more than 10% above pre-emergency levels, through November 14, 2026 unless extended.

Are short-term rental licenses still available in San Diego?

In the City of San Diego, as of October 9, 2026, 802 Tier 3 whole-home licenses outside Mission Beach remained, and none remained for Tier 4 in Mission Beach. Tiers 1 and 2 are not capped. Short-term rentals of ADUs are not allowed.

Next step: see where your home fits

Citywide numbers are a starting point. McKee Properties has managed San Diego rentals since 1982 and offers a free San Diego rental analysis based on your home's own comparables.