February 26, 2024 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Rent Trends Diverge Across California’s Metros: Los Angeles Bucks Statewide Decline

December 2023 Report from Rent.com Highlights Varied Rental Market Shifts

Rent prices in California’s major metropolitan areas experienced a year-over-year decline, with the exception of Los Angeles, according to data from Rent.com as of December 2023.

Sacramento witnessed the most significant shift, with rents plummeting over 6.5% to a median of $2,537 per month. In the Riverside metro area, rent prices also saw a notable decrease, falling by more than 3.5%. Meanwhile, San Francisco and San Diego reported smaller declines.

Contrary to the statewide trend, Los Angeles observed an increase in rent prices, with median rents reaching $3,515 per month in December—marking a 4% rise compared to December 2022.

Analyzing the broader picture, the median rent across California stood at $2,941 per month, showing relatively stagnant growth over the preceding year. Rent.com compiled this data from its available inventory, aggregating all bedroom types into a single median price.

Here is a breakdown of median rent and year-over-year percentage changes in California’s key metro areas:

  • Los Angeles, CA: Population 12,997,353, Median Rent $3,515, YoY % Change 4.06%, MoM % Change −2.25%
  • San Diego, CA: Population 3,286,069, Median Rent $3,270, YoY % Change −0.24%, MoM % Change −2.52%
  • San Francisco, CA: Population 4,623,264, Median Rent $3,631, YoY % Change −1.06%, MoM % Change −0.68%
  • Riverside, CA: Population 4,653,105, Median Rent $2,575, YoY % Change −3.74%, MoM % Change −3.54%
  • Sacramento, CA: Population 2,411,428, Median Rent $2,537, YoY % Change −6.65%, MoM % Change 1.95%

Looking beyond California, the state did not rank among those experiencing the most significant rent increases or decreases. States like Mississippi, New Hampshire, Michigan, Minnesota, North Dakota, and Kansas witnessed double-digit rent hikes, while Florida, Idaho, and Oregon recorded the steepest declines, according to Rent.com.

On a national scale, the median monthly rent was $1,964 last month, slightly below 1% from December 2022, as reported by Rent.com.

Related Posts

(Video) Baltaire’s DJ Brunch is Ready to Make Your Weekend Fabulous

February 23, 2024

February 23, 2024

Baltaire is America’s Favorite Neighborhood Steakhouse. A Contemporary Restaurant in Brentwood With Classic Genes, Baltaire Is Where to Enjoy Brunch...

Culver City Launches Early Voting Center for City Residents for Upcoming Elections

February 22, 2024

February 22, 2024

Municipal Government Provides Residents With Convenient Options for Early Voting. As the upcoming elections draw near, Culver City residents are...

Los Angeles Mayor Joins President Biden to Announce $1.2B Student Loan Relief

February 22, 2024

February 22, 2024

President Biden in a Groundbreaking Move to Alleviate Student Debt Burdens. On February 21, Mayor Karen Bass of Los Angeles...

Los Angeles County Takes Grubhub to Court Alleging Deceptive Practices

February 22, 2024

February 22, 2024

Legal Action Initiated Against Grubhub for Alleged False Advertising Los Angeles County has initiated legal proceedings against food delivery giant...

(Video) Russian River’s Pliny the Younger 2024 at Father’s Office in Culver City

February 22, 2024

February 22, 2024

Russian River’s Pliny the Younger 2024  at Father’s Office in Culver City. The ticket got you two pours of the...

Culinary Bliss Awaits: Los Angeles Wine & Food Festival Debuts in Santa Monica

February 21, 2024

February 21, 2024

Santa Monica Pier Welcomes the Inaugural Los Angeles Wine & Food Festival Santa Monica is set to become the birthplace...

Beloved Los Angeles Restaurant Manzke to Close Alongside Bicyclette on March 2

February 21, 2024

February 21, 2024

Culinary power couple Walter and Margarita Manzke Continue on with République  By Dolores Quintana Chefs Walter and Margarita Manzke are...

Indulge Your Cookie Cravings and Support Local Scouts: Girl Scout Cookie® Sales Now Open

February 21, 2024

February 21, 2024

Multiple Ways to Purchase Iconic Cookies and Make a Difference You can satisfy your Girl Scout Cookie® cravings this season...

Hippity Hoppity: Culver City’s Egg-stravaganza Celebrates Joy and Community For Easter

February 20, 2024

February 20, 2024

Join the Easter Fun: Culver City’s Annual Spring Egg Hunt at Veterans Memorial Park This Saturday, March 23, 2024, Veterans...

City and County of Los Angeles Activate Winter Shelter Program Amid Harsh Weather Conditions

February 20, 2024

February 20, 2024

City Again Offers Shelter for the Unhoused in Cold and Rainy Weather To address the urgent needs of those experiencing...

Countdown to the 30th Annual SAG Awards: Celebrating Excellence in Film and TV

February 20, 2024

February 20, 2024

SAG Awards Ceremony Set for Feb. 24, 2024, to be Globally Streamed on Netflix The anticipation for the 30th Annual...

(Video) If Not Now Los Angeles Protest at Vice President Kamala Harris’ Home in Brentwood

February 20, 2024

February 20, 2024

The group held a Shiva or Jewish mourning ceremony as a protest. @brentwoodnewsla If Not Now Los Angeles Protest at...

Atmospheric River Update for Los Angeles, Santa Monica, and Malibu for February 19

February 19, 2024

February 19, 2024

Road Closures, Mudslides, and Heaviest Rainfall of This Storm Still on the Way The City of Los Angeles intensified its...

Caltrans Shuts Down NB I-405 Off-Ramp Indefinitely

February 19, 2024

February 19, 2024

Motorists Urged to Seek Alternatives Amid Closure  Caltrans District 7, has announced revealed that the northbound I-405 off-ramp to Skirball...

Oklahoma Man Pleads Guilty to Threatening LA Schools with Bomb Attacks and Shootings

February 19, 2024

February 19, 2024

Angry Man Pleads Guilty To Making Chilling Threats Against Children and Schools Marcus Jamal Sanchez, 45, also known as “Marcus...