Where are California’s rent bargains? They’re not cheap

Even California’s “bargain” rents look expensive on a national scale. My trusty spreadsheet reviewed 2023 average rent statistics from ApartmentList for 518 larger markets across the US – including 75 in California. ApartmentList’s figures combine pricing from landlord listings and Census Bureau data.

California’s 10 cheapest places had a median rent of $1,854 a month last year. Meanwhile, the 443 markets outside of California that were tracked had a $1,566 median rent. So, rents elsewhere in the nation are 15% cheaper than the Golden State’s “bargain” cities. Here are the state’s lowest priced rents and how they’ve changed since 2019 – just before a coronavirus upended the economy.

Many of these markets are far from the traditional job hubs of Los Angeles, San Francisco, and San Diego … $1,304 in 2023 – up 26% vs. ’19. $1,658 – up 29% $1,675 – up 23% $1,782 – up 19% $1,828 – up 37% $1,880 – up 34% $2,058 – off 3% $1,921 – up 44% $1,915 – up 15% $2,089 – up 36% The state’s priciest rental communities are primarily markets largely known for high paying technology jobs … $3,242 in 2023 – up 21% vs.

’19. $3,151 – up 33% $3,131 – off 2% $3,103 – up 36% $3,089 – up 8% $3,033 – off 2% $3,019 – off 1% $2,980 – off 3% $2,979 – up 4% $2,967 – up 27% Consider that the biggest rent hikes over four years were most likely to be found inland … $1,921 in 2023 – up 44% vs. ’19. $2,154 – up 42%.

$2,280 – up 41% $2,259 – up 39% $2,881 – up 39% $2,327 – up 37% $1,828 – up 37% $2,183 – up 36%. $2,089 – up 36%. Finally, see the 10 California spots among 75 tracked where rents have declined since 2019 – all in the Bay Area … $2,158 in 2023 – off 13%. $2,712 – off 12% $2,757 – off 4%.

$2,922 – off 4% $2,980 – off 3% $2,058 – off 3% $3,033 – off 2% $3,131 – off 2% $3,019 – off 1% Ponder that there were 105 markets cheaper than Fresno – California’s bargain in this study. The US lows for rent? Fargo, North Dakota at $953 a month, Roanoke, Virginia at $956, Fort Wayne, Indiana at $961, McAllen, Texas, at $964 and Lake Charles, Louisiana at $973..