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High Gas Prices…Less Commuting

By Mike in Downtown San Diego Urban Lifestyle|July 2008 with 0 Comments


The issue of higher gas prices will continue to be a trigger point for homeowners and renters making the decision to live closer to hubs of mass transit. See our Blog last month Entitled “Higher Gas Prices Mean More Urban Development.” Today, my clients Mike Bierne (Executive Vice President of Kamson Corporation) and his wife Shari sent me this article “Renters go Downtown to Save on Gas, Commuting“ as a contribution to the website. Mike is quoted in the article several times as a representative from a company that manages apartment complexes in the New Jersey area. The trend toward an Urban Lifestyle is occurring in cities all across the United States. Currently, Downtown San Diego has less than a 5% vacancy rate for rental units. This is always great news for investors who are taking advantage of the current “Buyers Market“. As indicated in the article, two bedroom two bath units in Downtown San Diego start at $2400 to $2600 a month. A comparable unit a half hour to an hour commute away would go for at least half that amount monthly. Renters would rather pay the higher amount in rent to live close to work/mass transit, than spend the extra money on gas and potentially sit in the car several hours a day. Not only is this the environmentally friendly thing to do (Live Green…Live in Cities), it may also be the most affordable option as well.