If you ask your friends or family members who live in California, it’s easy to know someone who is paying a premium for rent but the big question is where are the most expensive rental markets in California?
In this article, we will answer this question and offer you insight into California’s most expensive rental markets.
Most Expensive Rental Markets In California
Thanks to a recent report by Dwellsy, we know that the most expensive rental markets in California are:
San Jose – Average rent $3,000/mo
San Francisco – Average rent $2,995/mo
San Diego – Average rent $2,695/mo
Los Angeles – Average rent $2,595/mo
Sadly, the average rent in these metro areas has increased by 15% since 2021 but that was to be expected as rents are increasing following the turmoil that the rental market has faced since COVID-19.
Small California Cities Are Not Immune To Rent Increases
Rent increases have also affected our smallest cities in California including:
Santa Cruz – Average rent $3,200/mo
Napa – Average rent $2,998/mo
Santa Barbara – Average rent $2,798/mo
Oxnard / Thousand Oaks – Average rent $2,770/mo
Multifamily and single family rents are also rapidly increasing in these cities as well but there’s hope among economists that rent increases are slowing down as we approach 2023.
Contact RPM Central Valley
For more information about Caifornia’s rental market, or to speak with us about our property management services, contact us today by calling (209) 572-2222, or click here to connect with us online.