Renters in nine Southern California cities are still seeing cost hikes while most others enjoy drops

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Renters in nine Southern California cities are still seeing cost hikes while most others enjoy drops

See more of our coverage in your search results. Add The California Post on Google.

Article outline

  1. What happened
  2. The key numbers
  3. The details
  4. A closer look
  5. More on the story
  6. The bottom line

Key points

  • While Glendale fell 6.6% to $2, 710, the biggest two-bedroom break came in Oxnard, where rates tumbled 9.5% to $2, 770, Los Angeles dropped 6.9% to $2, 970.
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  • Southern California's increasing nevertheless pale beside San Francisco, where one-bedroom rents skyrocketed 22.9% to $4, 180 and two-bedroom rates leaped $25.9% to a record $6, 020, according to Zumper's national report.
  • The holdouts were Carlsbad, Corona, Downey, Oceanside, Riverside, San Bernardino, San Marcos, Torrance and Vista.
  • Renters seeking two bedrooms were squeezed hardest in San Bernardino, where rates soared 8.1% to $2, 000.

Southern California's brutal rent squeeze appears to finally be loosening – but renters in nine unlucky cities are still getting hit with higher rates.

Median asking rents for both one- and two-bedroom homes rose year over year in just nine of 41 markets in Los Angeles and San Diego metros, according to new data from rental platform Zumper.

In practice, the holdouts were Carlsbad, Corona, Downey, Oceanside, Riverside, San Bernardino, San Marcos, Torrance and Vista.

Throughout those cities, one-bedroom listings averaged concerning $2, 040 per month after increases averaging 2.6%. Two-bedroom asking rents averaged roughly $2, 700 after an average 4.7% jump.

San Marcos delivered the biggest blow to one-bedroom renters, with its median cost surging 9.5% to $2, 430. Its two-bedroom rent climbed 7.2% to $2, 990.

Renters seeking two bedrooms were squeezed hardest in San Bernardino, where rates soared 8.1% to $2, 000. Corona followed with a 7.9% growth to $2, 590. Sign up for the California Morning Report newsletter.

California's top news, sports and entertainment delivered to your inbox every day. Most of the region received better news.

At least one rental category declined in 29 of the 41 cities analyzed. Lancaster recorded the steepest one-bedroom drop, plunging 11.9% to $1, 560, Zumper's data indicated. While Coronado dropped 6.7% to a still eye-watering $4, 200, redondo Beach fell 7.4% to $2, 500.

Anaheim, Long Beach and Hawthorne landed in the middle, each recording a flat cost for one rental size and an rise for the other.

Zumper remarked rental markets are moving in different directions largely as of apartment supply. While rates are beginning to firm where available units are being absorbed, renters retain more leverage where inventory remains plentiful.

Zumper calculated the figures from active rental listings that hit the market in July.

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Taken together, the developments around renters in nine Southern California cities are still seeing cost hikes while point to a situation that is still moving, and the coming days should bring more clarity.

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