{"id":10101,"date":"2025-11-26T14:55:00","date_gmt":"2025-11-26T14:55:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=10101"},"modified":"2026-03-30T15:37:59","modified_gmt":"2026-03-30T15:37:59","slug":"san-diego-multifamily-market-report-november-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-diego-multifamily-market-report-november-2025\/","title":{"rendered":"San Diego Multifamily Market Report \u2013 November 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/san-diego-multifamily-market-report\/\">San Diego Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Supply Holds Steady, Rents Contract<\/h2>\n<p>The San Diego multifamily market ended the third quarter with a mixed performance, as economic uncertainty pressured fundamentals, according to the latest San Diego multifamily market report. Average advertised asking rents ticked down 0.2%, on a trailing three-month basis through September, to $2,732, 10 basis points below the national figure. Despite 2023 and 2024 being decade peaks for San Diego deliveries, overall occupancy continued to climb. It inched up 10 basis points year-over-year, to 96.3% as of August, a sizable 160 basis points above the U.S. average, as noted in the <strong><a href=\"\/blog\/national-multifamily-market-report\/\">national multifamily market report<\/a><\/strong>.<\/p>\n<p><iframe id=\"datawrapper-chart-avedI\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Diego vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/avedI\/1\/\" height=\"327\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Employment growth clocked in at 0.7% as of July, just 10 basis points below the national rate. San Diego continued to close the gap, as job additions have steadily recovered since the start of the year. Unemployment reached 5.0% in August, in line with seasonal trends, according to preliminary data from the Bureau of Labor Statistics. In the 12 months ending in July, San Diego gained 6,300 net jobs, mostly due to additions in education and health services and government. Major projects expected to impact the job market in the long term include an upcoming redevelopment of the U.S. Navy\u2019s 70-acre campus in Point Loma, as well as UC San Diego Health\u2019s ongoing multibillion-dollar Hillcrest campus rebuild.<\/p>\n<p><iframe id=\"datawrapper-chart-vLIhM\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Diego Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/vLIhM\/1\/\" height=\"416\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Construction slowed down, but remained relatively healthy, with 12,474 units underway as of September. Meanwhile, nearly $1.2 billion in multifamily assets traded in the first three quarters of 2025<\/p>\n<p>Read the full Yardi Matrix San Diego Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8082-MatrixMultifamilySanDiegoReport-November2025\"><strong>November 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Supply Holds Steady, Rents Contract The San Diego multifamily market ended the third quarter with a mixed performance, as economic uncertainty pressured fundamentals, according to the latest San Diego multifamily market report. Average advertised asking rents ticked down 0.2%, on a trailing three-month basis through September, to $2,732, 10 basis points below the national figure. [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":9716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,460,516],"class_list":["post-10101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-san-diego","tag-yardi-matrix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Diego Multifamily Market Report \u2013 November 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Diego advertised asking rents continued to decelerate, down 0.2 percent on a T3 basis through September to $2,732, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-multifamily-market-report-november-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Diego Multifamily Market Report \u2013 November 2025\" \/>\n<meta property=\"og:description\" content=\"San Diego advertised asking rents continued to decelerate, down 0.2 percent on a T3 basis through September to $2,732, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-multifamily-market-report-november-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-26T14:55:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-30T15:37:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/07\/San-Diego-iStock-2220284623-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tudor Scolca-Seu\u0219an\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Diego Multifamily Market Report \u2013 November 2025 - 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