{"id":1004148018,"date":"2016-07-20T23:23:23","date_gmt":"2016-07-21T07:23:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148018"},"modified":"2025-02-26T23:39:21","modified_gmt":"2025-02-27T07:39:21","slug":"yardi-matrix-san-diego-catches-silicon-valley-fever","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-san-diego-catches-silicon-valley-fever\/","title":{"rendered":"Yardi Matrix: San Diego Catches Silicon Valley Fever"},"content":{"rendered":"<div id=\"attachment_1004147975\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004147975\" data-attachment-id=\"1004147975\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-san-diego-catches-silicon-valley-fever\/sandiego_metro_rent16\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg\" data-orig-size=\"800,400\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"San Diego rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;San Diego rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg?w=800\" class=\"size-medium wp-image-1004147975\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg\" alt=\"San Diego rent evolution, click to enlarge\" width=\"300\" height=\"150\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/SanDiego_Metro_rent16.jpg?resize=768,384 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004147975\" class=\"wp-caption-text\">San Diego rent evolution, click to enlarge<\/p><\/div>\n<p>With broad-based job gains and above-average population growth, San Diego\u00a0continues to produce a healthy climate for multifamily. The metro\u2019s occupancy\u00a0rate is a phenomenal 97 percent, on par with Los Angeles and among the highest in the\u00a0country, while demand is strong and rents are growing at above-trend levels.<\/p>\n<p>The combination of a deep pool of talent, venture capital and quality office\/lab space is drawing a large number of tech and biotech companies to the\u00a0area, turning San Diego into an alternative to Silicon Valley. Indeed, the metro is\u00a0developing a reputation as the biotech capital of the West. Other segments that\u00a0are driving growth include defense\/military, manufacturing, international trade,\u00a0hospitality, healthcare, and research and education. The versatility created by this\u00a0mix helped San Diego during the financial crisis and can act as a potential safety\u00a0net for investors during a future downturn.<\/p>\n<p>Multifamily fundamentals are healthy on all fronts, and rents grew 6.9 percent year-over-year through May. The development pipeline, investment volume, home\u00a0prices and rents are all at or near their highest point in the current cycle. Investor\u00a0appetite is strong, with a record transaction volume of $1.5 billion. Though\u00a0demand for units will remain solid, there are 32,000 units in the pipeline, which\u00a0will help slow rent growth to a more sustainable 5.5 percent in 2016.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/95-SanDiego-Summer2016Outlook?signup=false\" target=\"_blank\" rel=\"noopener\">Read the full Yardi Matrix Report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multifamily Summer Report 2016: With broad-based job gains and above-average population growth, the metro continues to produce a healthy climate for multifamily.<\/p>\n","protected":false},"author":873,"featured_media":1004147963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21782,21808,21742,37795,1608,15],"tags":[],"class_list":["post-1004148018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-development","category-featured","category-latest","category-rc-occupancy","category-san-diego","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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