The Issue:
- The current eviction moratoriums placed on all rental households in San Diego County are negatively impacting the greater community at the expense of a small minority.
- Less than 4% of San Diego renters benefit from the eviction moratorium
- Further, with rent subsidies widely available to those truly in need, the eviction moratorium is widely being used by those gaming the system
The Result:
- Decreased inventory (effectively taking 3.2% of units offline for normal paying tenants), causing rents to soar for the 96.8% of good standing tenants
- Increased crime at properties
San Diego Population (2020) = 3,333,476
- 5 Year growth from 2016-2020 = 45,123 or 9,025 per year
- Projected 5 year growth 2021-2026 = 85,039 or 17,008 per year
- Estimated annual housing units required to meet growth = 6,803
- This assumes 2.5 persons per household
Estimated San Diego Housing units (rental & owned) = 1,392,388
- Total rental units estimated at 750,750 or 53.2% per Data USA
- Total new housing supply 2016 – 2020 = 32,422 units
- Total For Sale New Supply = 16,668 (3,334 Avg)
- Total Rental New Supply = 15,754 (3,151 Avg)
A lack of housing has put a severe constraint on the San Diego economy. Population growth continues to slow as a result. From 2000 to 2010 San Diego grew at an average rate of 27,343 persons per year vs a trailing 5 year average of 9,025. Future growth and economic prosperity will only occur with a better housing policy, that provides true work-force housing.