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LA Rent Third Highest in California, San Diego Tops List

2024-12-09 (월) 11:59:10 Hongyong Park
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LA Rent Third Highest in California, San Diego Tops List
According to Zillow, the average median rent across all property types in California is $2,800, exceeding the national average by $795. However, even California cities notorious for high rents fall short compared to New York and Boston. New York leads the nation with an average monthly rent of $3,500, followed by Boston at $3,200.

Within California, the most affordable rental areas are primarily in agricultural regions. For example:

Redding: $1,142
Turlock: $1,351
Bakersfield: $1,367
Fresno: $1,430
Clovis: $1,627
In contrast, major cities in southern states remain significantly more affordable. Houston, Texas, has an average monthly rent of $1,300, one of the lowest in the U.S., while Phoenix, Arizona, averages $1,578.


California's housing costs have long been exorbitant. Although 3.6 million housing units were built since 1990, population growth (9.4 million new residents) far outpaced construction. Housing prices in California are more than double the national average, with rents approximately 50% higher.

The COVID-19 pandemic reshaped the housing market, exacerbating rent increases. NerdWallet explains that rising inflation led landlords to pass on higher wages for property staff and repair costs to tenants, creating a feedback loop of escalating prices. Remote work also contributed to heightened demand for larger homes, as renters with financial flexibility sought affordable regions, driving up local rents. Additionally, an increase in single-person households surged demand for studio and one-bedroom apartments, further inflating rental costs.

The California Public Policy Institute highlighted the financial strain caused by high housing costs. It noted that California renters are more likely than those in other states to spend over half their income on rent. The report revealed that one in six middle-class renters in California faces severe housing cost burdens, a crisis disproportionately impacting low- and middle-income households.

Hans Johnson from the Institute stated, “The high cost of housing in California is prompting more residents to move to other states, with the largest net outflow among low- and middle-income households significantly affected by these costs.”

By Hong-Yong Park

<Hongyong Park>

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