Where are California rents falling fastest? – Daily News

on Nov6
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California apartment rents fell for the second-consecutive month in October with pricing taking its biggest one-month drop since at least 2017.

My trusty spreadsheet reviewed ApartmentList’s monthly rent estimates in October for 44 large California cities and found a 1.3% dip from September to a monthly median payment of $2,222. It’s the largest one-month decline in ApartmentList data going back to 2017.

October saw rent cuts in 39 of 44 big cities. Where were the largest declines – and what cities had the biggest increases? And what about one-year trends? Or how have rents moved since pre-coronavirus days?

Let’s take a peek at renting’s extremes within those 44 cities using ApartmentList’s October data.

Start with the size of the monthly check …

Highest rents: Irvine was No. 1 at $3,200 a month, then came Carlsbad at $3,040, Temecula at $2,784, Santa Clara at $2,723 and Simi Valley at $2,650.

Lowest rents: Fresno at $1,329, Sacramento at $1,656, Oakland at $1,666, Long Beach at $1,711 and Concord at $1,860.

Next, look at one-month rent changes …

Best for tenants: Concord was tops, off 3.3% from September to $1,860; then San Mateo, off 3.1% to $2,632; Sunnyvale, off 2.6% to $2,577; Temecula, off 2.5% to $2,784; and Pomona, off 2.4% to $1,959.

Worst: Irvine was No. 1 with a 0.6% increase from September to $3,200. Next was Carlsbad, up 0.5% to $3,040; then Orange, up 0.4% to $2,367; Vista, up 0.3% to $2,357; and West Covina, up 0.1% to $2,273.

And the 12-month rent change?

Best for tenants: Ventura was tops, off 4% since October 2021 to $2,059. No. 2 was Roseville, off 4% to $2,100; then Oakland, off 3% to $1,666; Ontario, flat at $2,181; and Costa Mesa, flat at $2,542.



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