Silicon Valley Overtakes San Diego as California’s Most Competitive Rental Market

San Diego’s housing market is notoriously tough for renters, but a new report reveals Silicon Valley now faces even fiercer competition.

RentCafe’s latest data shows Silicon Valley surpassing San Diego, Orange County, and Eastern Los Angeles as the top rental market in California for 2024. San Diego, previously ranked as the most competitive in 2023, now holds the 18th spot nationally.

With a 94.8% occupancy rate and 10 renters competing per unit, San Diego remains highly competitive. However, Silicon Valley’s tech rebound has pushed its market to 6th in the U.S., driven by nearly full occupancy and limited new construction.

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