For millions of Californians, the dream of owning a home is completely out of reach, so renting is the only option.
As of October, the average single-family home cost about $888,000, and the typical condo cost about $670,000, according to the California Association of Realtors.
Unfortunately, California’s home rental market remains one of the most expensive in the United States, with cities like San Francisco, San Diego, and Los Angeles leading the way.
According to the latest data from Zillow, the median rent for all property types in California is $2,800, which is $795 higher than the national median. The good news is that rents are relatively flat year-over-year, increasing by just $5 from December 2023.
Los Angeles home prices will soon reach a milestone
San Francisco tops the list of most expensive California cities for renters, with an average rent of $3,168 per month. San Diego follows with an average rent of $3,175, and Los Angeles averages $2,983 per month.
California’s most expensive rental market (Zillow)
San Francisco: Average monthly rent is $3,168. San Diego: Average rent is $3,175 per month. Los Angeles: Average rent is $2,983 per month. San Jose: Average rent is $2,570 per month. Santa Monica: Average rent is $2,500 per month. Oakland: Average rent is $2,450 per month. Irvine: Average rent is $2,400 per month. Santa Ana: Average rent is $2,370 per month. Berkeley: Average rent is $2,350 per month. Fremont: Average rent is $2,300 per month
Compared to the 20 largest cities in the United States, California cities consistently rank among the most expensive for rent, but no city ranks number one.
That honor goes to New York City, where the average rent is $3,500 a month, and Boston, where the average rent is $3,200 a month.
Houston is one of the most affordable cities in the U.S., with average monthly rents of $1,300 and Phoenix’s average of $1,578.
The most affordable rents in California are primarily in rural, agricultural areas.
Cheapest rental market in California (Zillow)
Redding: Average rent is $1,142 per month. Turlock: Average monthly rent is $1,351. Lodi: Average rent is $1,358 per month. Bakersfield: Average rent is $1,367 per month. Yuba City: Average rent is $1,375 per month. Merced: Average monthly rent is $1,481. Modesto: Average rent is $1,546 per month. Fresno: Average rent is $1,430 per month. Clovis: Average rent is $1,627 per month. Citrus Heights: Average monthly rent $1,755
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