Why is it so hard to find a place to rent in California?

Rental Shortages It showed that rental vacancies are at their lowest since the mid-eighties. One reason for this is that millennials who have been living with their parents or with roommates have finally decided to move out and get started on their own .

Why are rents so high in California?

How come rent is so much higher in California compared to the rest of the US? Two reasons: A large population of relatively well paid engineers . A lack of high density housing.

What city in California has the highest rent?

Most & Least Expensive Large Metros for Renters Top Metros Median Rent 1. San Jose-Sunnyvale-Santa Clara, CA $3,451 2. San Diego-Chula Vista-Carlsbad, CA $3,175 3. San Francisco-Oakland-Berkeley, CA $3,141 4. Los Angeles-Long Beach-Anaheim, CA $2,777 11 more rows Nov 20, 2023

Where are California rents falling fastest?

Declining rents in major California cities Oakland and Sacramento saw the most significant drops, with rental rates falling by 9.1 percent and 8.1 percent, respectively. Other cities such as Los Angeles, San Jose, San Francisco, San Diego and Long Beach also saw declines, albeit to a lesser extent.

Will California rent ever go down?

(NerdWallet) – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn't expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024 .

How much can a landlord raise rent in California in 2024?

The law imposes a statewide rent cap, limiting annual rent increases to 5% of the current rent plus the local rate of inflation, or 10% of the current rent, whichever is lower .

What is the limit on rent increase in California?

Limits on Rent Increases Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living – whichever is lower – over a 12-month period . If the tenants of a unit move out and new tenants move in, the landlord may establish the initial rent to charge.

Why is the housing crisis so bad in California?

Economic Factors. High construction costs further exacerbate the housing shortage . Land in California is expensive, particularly in desirable urban areas. Labor costs are also high due to the state's prevailing wage laws and labor shortages in the construction industry.

Where's the toughest place to find an apartment in California?

Buzz: Silicon Valley ranks as the hardest spot to find an apartment in California, with western Los Angeles County scoring as the easiest.

Why is California housing so high?

“There are a number of factors that contribute to housing costs in California, including high property taxes and a generally high cost of living , but the biggest factor is that California just doesn't build that much housing,” says Motola. “Housing building permits per capita are among the lowest in the nation."

2 Bedroom Apartments for Rent in Santa Barbara, CA - 27 Rentals

6h ago

2 Beds East Beach condo for rent in Santa Barbara

444 Por La Mar Cir #444, Santa Barbara, CA 93103

In unit laundry | Furnished | Assigned parking

2 beds

2 baths

$5,000

1d ago

2 Beds apartment for rent in Santa Barbara

4320 Modoc Road

4320 Modoc Rd, Santa Barbara, CA 93110

2 beds

1 bath

$3,395

1d ago

8.4

Very good

Sumida Gardens Apartments

122 Sumida Gardens Ln, Santa Barbara, CA 93111

Garage parking | On site laundry | Balcony

2 beds

1–2 baths

$3,816–$5,498

1d ago

8.9

Very good

Willow Springs

60 Willow Springs Ln, Santa Barbara, CA 93117

Furnished | Garage parking | On site laundry

2 beds

1–2 baths

$3,791–$6,362

2d ago

8.8

Very good

San Angelo Apartments

165 - 175 San Angelo Avenue, Santa Barbara, CA 93111

In unit laundry | On site laundry | Dishwasher

2 beds

1 bath

$3,195

2d ago

8.8

Very good

239 - E. Jerald Haws Family Trust (Eucalyptus)

1520 Eucalyptus Hill Rd, Santa Barbara, CA 93103

On site laundry

2 Bedroom Apartments for Rent in Santa Barbara, CA - 27 Rentals | Zumper (2024)

FAQs

Why is it so hard to find a place to rent in California? ›

Top Metros	Median Rent
1. San Jose-Sunnyvale-Santa Clara, CA	$3,451
2. San Diego-Chula Vista-Carlsbad, CA	$3,175
3. San Francisco-Oakland-Berkeley, CA	$3,141
4. Los Angeles-Long Beach-Anaheim, CA	$2,777