Market Report

Otay Mesa Rents, Home Values and the Rent-vs-Buy Gap (ZIP 92154)

Where Otay Mesa stands today: ZIP 92154 has a typical value of $750K as of Aug 2026, +1.2% against a year ago and +20% against five years ago. The regional gauge this week: “Balanced”.

Updated October 2026 · Data through Aug 2026 (monthly) and the week ending Sep 19, 2026 (weekly)

Where Otay Mesa stands today: ZIP 92154 has a typical value of $750K as of Aug 2026, +1.2% against a year ago and +20% against five years ago. The regional gauge this week: “Balanced”.

What changed

The past week: the gauge held at “Balanced” (47 to 48). New pending sales were 409 against 414 last week, and new listings 495 against 502.
The past month: the typical value went from $746K (Jul 2026) to $750K (Aug 2026), +0.54%.
The past four weeks: the gauge held near 48.

If you are buying

The shelf is fuller. 120 homes for sale compares with 110 a year ago.
Asking prices are moving. About 23% of listings show a price cut.
The rate backdrop. The 30-year average sat at 7.28% in the latest Freddie Mac survey.

If you are selling

The temperature. Zillow rates demand in the ZIP at 64 of 100.
The takeaway. Recent sales, not old ones, are the best guide to a list price. Rudy can walk through them with you.

Statistics like these show where the market has been. They cannot value a single home or predict where prices go next; a personal report from Rudy can get closer to your own property.

Rents

Rents, yields and the rent-versus-buy gap

What it costs to rent in ZIP 92154, and how that compares with owning.

What renting costs here

Zillow Observed Rent Index, ZIP 92154, Aug 2026 (single-family homes, condos and apartments).

Typical monthly rent over time
Month	Typical rent
Aug 2018	$1,929
Aug 2020	$2,102
Aug 2022	$2,752
Aug 2024	$2,850
Aug 2025	$2,918
Aug 2026	$2,978

The typical rent in ZIP 92154 is $2,978 a month, +2.0% over the last twelve months and +27.1% over five years, compared with $2,994 for the metro area as a whole.

Set beside the typical home value of $750,299, a year of that rent is 4.8% of the price (a gross figure, before any expenses). Owning that typical home, with 20% down at 7.28 percent, costs an estimated $4,982 a month including tax and insurance: about $2,005 more than the typical rent.

ZIP 92154San Diego metro

The long view

The cycles: how values got here

The peaks, the pullback and the recoveries in ZIP 92154 since 2000, in plain numbers.

The cycles, one line each

Zillow Home Value Index for ZIP 92154. Dates are month ends; changes are nominal, not adjusted for inflation.

Home value cycles in ZIP 92154
Phase	Dates	Typical value	Change
January 2000 to the mid-2000s peak	Jan 2000 to Jun 2006	$167,798 to $471,129	+181%
Peak to trough	Jun 2006 to Dec 2011	$471,129 to $234,730	−50%
Trough to a new high	Dec 2011 to Jul 2018	$234,730 to $472,702	+101%
March 2020 to the record high	Mar 2020 to Jul 2024	$503,874 to $775,874	+54%
Record high to now	Jul 2024 to Aug 2026	$775,874 to $750,299	−3.3%

From Jan 2000 the typical value climbed +181% to a peak of $471,129 in Jun 2006, slipped −50% to $234,730 by Dec 2011, and did not pass the old peak until Jul 2018, about 12.1 years after it. The record so far is $775,874 in Jul 2024; the latest reading is $750,299 (Aug 2026).

Measured from the same starting point, the ZIP’s values have grown about 4% more than the wider metro area since January 2000.

ZIP 92154San Diego metro

The housing stock

The housing in ZIP 92154

What the Census Bureau’s survey says about the homes and the housing costs here.

The homes, in Census numbers

Source: American Community Survey, 5-year data for 2020-2024. Read a ± figure as the range of uncertainty around an estimate; ZIP Code Tabulation Areas are close to, not identical with, ZIP codes.

Census survey estimates of the housing stock and its cost
Measure	ZIP 92154
Median household income	$94,901 (±$4,991)
Homes that are owner-occupied	61.1%
Median year homes were built	1981
Median gross rent	$2,195 (±$61)
Median home value reported by owners	$639,200
Single-family detached homes	54.9%
Attached single-unit homes (townhomes, row houses)	10.6%
Small buildings (2 to 4 homes)	6.1%
Larger buildings (5 or more homes)	21.7%
Homes used seasonally or occasionally	1%

In ZIP 92154, about 61.1% of occupied homes are owner-occupied, the typical home was built around 1981, and about 54.9% of the housing is single-family detached.

Nothing here describes the people who live in a ZIP code, only its housing and costs. The survey’s home value is owner-reported and differs from the Zillow value used on the rest of this page.

The past month

The past month in ZIP 92154

What moved over the last month, and over the last twelve.

This month vs last month

Aug 2026 compared with Jul 2026, ZIP 92154.

Month over month
Measure	This month	Last month	Change	What it favors
Typical home value	$750,299	$746,261	+0.5%	Edge to sellers
Single-family value	$775,366	$771,126	+0.5%	Edge to sellers
Condo value	$558,931	$557,025	+0.3%	Edge to sellers
Homes for sale	120	120	+0.0%	About the same
Listings with a price cut	22.7%	20.9%	+1.8 pts	Edge to buyers
Market temperature (0-100)	64	73	−9.0 pts	Edge to buyers

Typical home value, last 24 months

Zillow Home Value Index, ZIP 92154

All homesSingle-familyCondos

Homes for sale and price cuts

Monthly, ZIP 92154

The last 12 months, one line each

View the numbers

Month by month, last 12 months
Month	Typical value	Change vs prior month	Homes for sale	Listings with price cut	Gauge
Aug 2026	$750,299	+0.54%	120	23%	87
Jul 2026	$746,261	+0.26%	120	21%	76
Jun 2026	$744,347	−0.07%	114	22%	74
May 2026	$744,864	−0.13%	112	22%	68
Apr 2026	$745,870	−0.15%	103	20%	65
Mar 2026	$747,017	−0.08%	98	20%	63
Feb 2026	$747,632	+0.06%	91	18%	58
Jan 2026	$747,171	+0.24%	94	17%	56
Dec 2025	$745,413	+0.35%	101	20%	66
Nov 2025	$742,833	+0.15%	106	22%	76
Oct 2025	$741,721	+0.06%	112	26%	82
Sep 2025	$741,261	−0.07%	112	26%	78

The balance right now

The balance between buyers and sellers

Where the market sits this week, before the history below.

This week: who had the edge?

Balanced 48 / 100

Week ending Sep 19, 2026 · San Diego metro area (San Diego–Chula Vista–Carlsbad)

Months of supply: 3.4 (under 4 is usually called a seller’s market, 4 to 6 balanced, over 6 a buyer’s market)
Listings with a price cut this week: 10.1%
New pending sales vs new listings: 409 vs 495

This month in ZIP 92154

Favors buyers 87 / 100

Aug 2026 · ZIP 92154 compared with its own history since 2018

Homes for sale: 120
Listings with a price cut: 23%
Zillow market temperature: 64 / 100
Last month: Favors buyers (76)

Week over week: the last 26 weeks

Each dot is one week in the San Diego metro area (San Diego–Chula Vista–Carlsbad). Hover or tap a dot for that week’s reading. Left of center favors sellers, right favors buyers.

Favors sellersLeans sellersBalancedLeans buyersFavors buyers

The gauge, then and now
When	Week ending	Score	Reading
This week	Sep 19, 2026	48	Balanced
Last week	Sep 12, 2026	47	Balanced
4 weeks ago	Aug 22, 2026	49	Balanced
12 weeks ago	Jun 27, 2026	41	Leans sellers
A year ago	Sep 20, 2025	44	Leans sellers

How the gauge works

How to read the dials: 0 to 100, low numbers favor sellers and high numbers favor buyers. The weekly dial covers the whole San Diego metro area (San Diego–Chula Vista–Carlsbad) (no ZIP-level weekly data is published) and combines supply, price cuts, days to pending and pending sales against new listings, ranked against every week since 2018.

The monthly dial is local to ZIP: inventory, price-cut share and market temperature compared with the ZIP’s own record. It answers “is this month normal for here?” rather than “how does this place compare with somewhere else?”.

Plain summaries of public numbers; not advice, and not a forecast.

About this data

Typical values, inventory, price cuts and days to pending: Zillow Research (the Zillow Home Value Index tracks the typical value of all homes in the middle price tier, seasonally adjusted).
Year-by-year and decade-by-decade history: the FHFA ZIP-level House Price Index.
Mortgage rates: Freddie Mac weekly survey; policy rate context from FRED.
Your own analysis: monthly data for ZIP 92154 (CSV).

These are estimates for a typical home and get revised from time to time. Refreshed Oct 2, 2026.