The San Diego rental market is hot, and it’s easy to see why property owners are investing in the greater San Diego area, but what sets each area apart? Del Mar is a community of almost 2 square miles on the Pacific coast it was named for (Del Mar is Spanish for ‘by the sea’.) Consisting of a little over 4,000 people, the area has a higher average income and lower crime rate than many nearby areas.
DEL MAR HOUSING DEMOGRAPHICS
So who lives in Del Mar? As part of San Diego county, Del Mar represents a smaller community that is mixed between multi-family properties and single family homes. Census data breaks these numbers down a little further, and here’s what you may find in the average Del Mar home out of the 2,125 households listed.
- Average household size – 2.53
- Households with kids under 18 – 325
- Single family homes – 62%
- Multi-family units – 38%
- Renter-occupied housing 45.4%
While the area is definitely dominated by smaller families and single family homes, it’s clear there is a huge rental market here, with 45.4% of the population renting their home.
PEOPLE OF DEL MAR
Del Mar sounds like a quiet suburban neighborhood, but who really lives there? The majority of Del Mar residents work white collar jobs — 94.49% of the population! And these white collar jobs translate to earnings too, with the median household income in the area over $350,000 for a family of four.
Over 70% of the population has a degree from a 4-year university or higher, which may explain why almost 20% of the area residents report working from home.:
RENTING IN DEL MAR
San Diego rent is on the rise, and it doesn’t look like it’s stopping anytime soon. This makes the San Diego areaan especially attractive option for real estate investment properties. As of January 2017, the average rent within San Diego itself was $2113 monthly. Average rents for a two bedroom apartment were a little higher at $2240. Since the average Del Mar resident needs at least two bedrooms, this desirable seaside community often runs on the higher end of the pricing spectrum in comparison to the national average.
And what’s more, this rental increase shows a tangible and measurable increase. In January of 2011, two bedroom rentals average only $1,323 per month. These numbers show a $917 average increase in just 6 years and a .9% increase in the last 6 months alone.
DEL MAR ATTRACTIONS AND AMENITIES
Del Mar is located within two miles of pristine beaches, sunny walks, and world-class shopping and dining. Listed by Time magazine as one of the 100 Best Beach Destinations, there’s a little something for everyone. Outdoor enthusiasts can enjoy the PGA-rated holes at the Torrey Pines Golf Course or hike the famous Torrey Pines trails. Enjoy the horses at the Del Mar Thoroughbred Club or relax at the Del Mar Beach Resort.
And don’t forget that Del Mar residents get to enjoy the greater San Diego benefits too. Families can spend the day at the world-famous San Diego Zoo or build a new creation at Legoland. Learn about marine wildlife at Seaworld or support the Free Flight Exotic Bird Sanctuary as they nurture and resocialize colorful parrots. Plus, there are seasonal events too — such as the San Diego Del Mar Fair in June and July with new themes every year.
It’s clear that when you shine a spotlight on Del Mar — it sparkles. Del Mar offers high-end California living in the San Diego Area. With small and educated households, there is still a highly in-demand rental market that will continue to rise. A qualified property management company can ensure you match your offering to the market and find the right renters, maximizing your return on investment. Learn more about renting in San Diego with a reputable property management company like Property Advantage.