Real Estate Investing in San Diego, California (92104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 92104 (San Diego, CA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 31.3 — hard to cash-flow at these prices.
What’s happening in San Diego, CA (92104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 92104 San Diego
ZIP 92104 in San Diego, CA carries a sturdy set of headwinds. Home values near $962K and rents of $2,565/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 92104 can be a a solid fit for hunting ground — but the discount at $962K reflects genuine risk that outside investors often underestimate.
Within CA, ZIP 92104 trails on several market indicators that neighboring San Diego County submarkets outperform. The gap is real and impressive enough to shape underwriting.
The 92104 ZIP's population of 46,912 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
Experienced landlords with local relationships tend to find 92104 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in San Diego:
Property Strategy for 92104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $482,458 | $2,530 | 3.8% | +6.6% | $482,458 |
| 2BR | $825,387 | $3,090 | 2.7% | +5.9% | $412,693 |
| 3BR | $1,219,313 | $4,120 | 2.4% | +6.8% | $406,438 |
| 4BR | $1,510,107 | $4,990 | 2.4% | +8.0% | $377,527 |
| 5BR | $1,730,230 | — | — | +7.1% | $346,046 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 92104 Compare?
| Metric | 92104 | San Diego | San Diego-Chula Vista-Carlsbad, CA | California |
|---|---|---|---|---|
| Home Value | $961,989 | $867,955 | N/A | $761,003 |
| 5-Year CAGR | 3.0% | 4.8% | N/A | 5.7% |
| Avg Rent | $2,565 | $3,152 | N/A | - |
| Cap Rate | 2.1% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 92104 (San Diego, CA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 92104 (San Diego, CA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving San Diego County
Manage rentals here? List your business →33 Property Management offers residential and multi-family property management services in North County San Diego and Riverside, CA. summary from their website
This domain is for sale. summary from their website
Advent provides quality property management services throughout Southern California, focusing on customer service and using modern property management tools. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $961,989 |
| Monthly Rent | $2,565 |
| Price-to-Rent | 31.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.2% |
| Cap Rate | 2.1% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 92104
Population: 46,912
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 92104
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Home & Hosp/Transition Support
Central Elementary
Grant K-8
Hamilton Elementary
Horton Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,212 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is San Diego, CA a smart market for rental property?
Investors tracking San Diego, CA will find a 3.0/5 rating supported by $962K median home values and $2,565/mo rents. That profile suits long-term holders targeting stable returns.
Is San Diego, CA a friendly market for rental owners?
Landlord-friendliness in San Diego, CA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How tight is the rental market in San Diego, CA?
San Diego, CA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What strategy should investors use in San Diego, CA?
For San Diego, CA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What monthly rent should investors expect in San Diego, CA?
Expect rents around $2,565/mo per month in San Diego, CA. With home values at $962K, the yield math works out to reasonable levels for rental investors.
You know 92104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 92104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 92104 ranks in San Diego-Chula Vista-Carlsbad, CA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 92104 (San Diego)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 92104 (San Diego, CA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.