Gas Prices Entice Renters to Move Downtown, Rents Up

Sick of filling up the tank for sixty bucks? Considering a place near work downtown and tossing the car keys? Prepare to pay higher rents as more like-minded apartment dwellers flock to urban digs. Nationwide, rents near job centers and mass transit are rising faster than other areas, according to New York-based real estate research firm Reis Inc.

And already in downtown San Diego, for example, rents have jumped 15 percent in the last year to between $2,400 and $2,600 a month for a two-bedroom apartment, said Greg Neuman, owner of Neuman & Neuman Prudential Realty.

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