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? Pacific Beach is home to both majestic, soothing waves and a fiery nightlife scene. Home to more than 46,000 residents, Pacific Beach provides almost 4 1/2 square miles as a hub for beach parties and youthful fun.
Pacific Beach Housing Demographics
Data lists 23,817 households in Pacific Beach, California. Unlike many other San Diego neighborhoods, though, residents often live in smaller groups, frequently in multi-family housing. Some other interesting facts include:
- Average household size - 1.94
- Households with children - 2,265
- Households without children - 21,551
- Family households - 6,988
- Non-family households - 16,829
It's clear Pacific Beach is not just a town of adults, but of single adults at that. As a hub for parties and nightlife, this area is well-suited for smaller apartments, studios, and lofts. While this area does have single-family homes, those homes are a great source for rental income from young tenants.
People of Pacific Beach
Pacific Beach sounds great for singles, but who really lives there? The average age in the Pacific Beach area is 30.48, atypical of many other San Diego areas, this beach town has an almost even mix of white and blue-collar workers (43.5% vs 56.5%), and a slightly less balanced mix between men and women (53.8% vs 46.2%).
What's more, only 27.5% of the population is married. Many of the population are students, who also work in the area, explaining the incredibly high portion of multi-family properties. While larger houses exist, with few families and children in the area, these are often shared by young 20 and 30-something roommates, as opposed to traditional single family dwellings.
Renting in Pacific Beach
San Diego rent is on the rise, and it doesn't look like it's stopping anytime soon. The average San Diego area one bedroom rents for $1,765 a month, The average Pacific Beach rental cost $1,817. The area is densely populated and highly urban, with many households clustered along the namesake Pacific Beach.
Almost 87% of Pacific Beach residents are renters, and while this seems like good news for rental property owners, there is also a 15% vacancy rate year round, which is higher than 74% of American neighborhoods. With a high turnover rate due to the central location between local San Diego universities, it may be a smart decision to consider hiring a San Diego property management company to help maintain and manage the day-to-day responsibilities of your investment property.
Pacific Beach Night Life and Ocean Views
Pacific Beach describes itself as, "3 miles of boardwalk and an endless beach party vibe." An area with so much sparkling beauty, Pacific Beach is known for the streets named after shining gemstones like Crystal Pier and Garnet Avenue. Try a surf only beach like Tourmaline Surf Park, or swim at lifeguard supported North Pacific Beach.
Pacific Beach itself offers many amenities including breakfast and bike riding. Check out the best bars and dance clubs in the area including the Duck Dive for the newest trends in gastropub cuisine or walk across the sand to the Lahaina Beach Club. There are so many night spots you'll have to sample the lot to find your favorite, but check out the Grass Skirt and Moonshine Beach to start.
When you shine a spotlight on Pacific Beach -- you may just end up dancing in that same light. Pacific Beach offers single living with soothing surf during the day and shining hot spots for night time entertainment.
A qualified property management company can help you price competitively, find tenants, and screen these applicants to ensure a quality renting experience for all. If you're interested in leasing your residential property in San Diego, check out our leasing checklist to ensure that you're prepared to manage your Pacific Beach real estate investment.