El Cajon had the nation’s 12th-highest rate of year-over-year growth in apartment rent, according to the latest monthly survey of 250 U.S. cities by commercial real estate data provider Yardi Matrix.
The East County city’s average rent in April grew 7.8 percent from a year ago, reaching $1,387.
The top six fastest-growers in the latest report were Stockton (up 11.2 percent), Lancaster, Calif. (up 10.9 percent), Colorado Springs, Colo. (up 10 percent), Tacoma, Wash. (up 9.5 percent) and Santa Rosa and Modesto, Calif. (tied at 9.4 percent growth).
The data firm said the city of San Diego’s rent growth appears to be softening, with a 1.9 percent year-over-year growth rate. However, rents in outlying cities are escalating, with Escondido’s up 5.7 percent and Chula Vista’s up 4.4 percent from a year ago.
Yardi Matrix researches and reports on all multifamily properties of 50 or more units across 124 U.S. markets. Data is reported through a website operated by a sister company, RentCafe.com.
Researchers said 203 cities out of 250 surveyed saw annual rent growth last month. Rents declined in 13 cities and flat-lined in 34 cities.
At $1,314, the average U.S. apartment rent in April was up 2 percent from a year ago. Researchers said that rate is well below the 6 percent year-over-year growth that was being seen at the same point of 2016.