FRESNO, Calif. (KFSN) — If you’re in the market for an apartment in the Central Valley, you know how difficult the search can be.
Research conducted by internet listing service RentCafe showed the Central Valley rental market remains one of the hottest in the country.
High housing prices and interest rates continue to keep more people from buying so they continue to rent.
“It’s kind of surprising that we saw a lot of the California markets rate as high as they did in terms of competitive scores, vacant days, occupied, number of applications for renters,” says Doug Ressler of Yardi Systems.
Central Valley Still Affordable Compared To Other Top Rental Markets
Miami-Dade County tops the list of most competitive rental markets in the US.
Renters there compete with 30 other people when a unit becomes available.
Among California areas, Orange County ranked 11th while the Central Valley came in the 14th position, with 15 prospective renters looking at the same available unit.
Yardi Systems gathers data for RentCafe.
Ressler notes people continue to move here from the Bay Area or southern California in search of lower housing costs.
Modesto was included in the Central Valley listing.
Ressler adds the lack of new apartment complexes limits choice for local renters.
RentCafe findings showed Valley apartments were typically filled 33 days after becoming vacant, and the occupancy rate has been as high at 97.6%.
Contact RPM Central Valley
At RPM Central Valley, we specialize in full service property management that saves owners the time, money and hassle of managing their investment properties themselves.
Our property management team can offer you a full suite of services including rent collection, maintenance, accounting, rent collection and more!
What’s most ideal about choosing us for your property management needs is we are on top of all the latest changes to the rental market so you can rest easy knowing that your property is professionally managed for top dollar.
To learn more about the services we can offer you, contact us today by calling (209) 572-2222, or click here to connect with us online.