A report by Zumper indicates that rental prices in San Diego are declining, with the city ranking 9th nationwide for the highest rents. Encinitas has the highest average rent at $2,680 for a one-bedroom, while El Cajon has the lowest at $1,780. Factors contributing to the decline include an influx of over 4,000 new apartments and a population decrease, which has reduced rental demand. Experts suggest that renters may have more negotiating power, and rents are expected to stabilize or decrease further, providing relief after significant increases since 2020.
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