Understanding and tracking California's Rental Market Hot Spots
Here are some rankings for California's most competitive rental market hotspots:
Top 3 >
Orange County was California’s hardest place to find a rental in early 2024. Apartment seekers were faced with complexes nearly full (96%) with the average vacancies lasting 40 days and getting 11 looks. And 60% of OC tenants stay put and sign a new lease. A year ago, OC ranked No. 2 statewide. On a national scale, Orange County was the 11th most competitive market to find a rental, according to the study.
Last year’s No. 1 market, San Diego, fell to No. 2. It was 95% full, with vacancies lasting 38 days and getting 9 looks as 50% of tenants renewed. It ranked No. 18 nationally.
The third-toughest California market was Silicon Valley, up from fifth in 2023. Its units are 94% full, with vacancies lasting 37 days getting nine looks as 47% of tenants renew. It ranked 20th most competitive in the U.S.
Other California markets tracked, ranked by 2024 competitiveness …
No. 4 Eastern Los Angeles County: 96% full; vacancies lasting 43 days getting 14 looks as 48% tenants renew. Year ago? No. 4.
No. 5 Central Valley: 96% full; vacancies last 40 days, get 8 looks as 53% renew. Year ago? No. 7.
No. 6 Central Coast: 97% full; vacancies last 40 days, get 9 looks as 46% renew. Year ago? No. 3.
No. 7 Sacramento: 95% full; vacancies last 44 days, get 8 looks as 52% renew. Year ago? No. 9.
No. 8 North LA/Ventura County: 95% full, vacancies last 46 days, get 9 looks as 48% renew. Year ago? No. 8.
No. 9 San Francisco Peninsula /North Bay: 93% full; vacancies last 42 days, get 6 looks as 45% renew. Year ago? No. 12.
No. 10 Inland Empire: 94% full; vacancies last 48 days, get 9 looks as 51% renew. Year ago? No. 6.
No. 11 Western Los Angeles County: 93% full; vacancies last 43 days, get 8 looks as 38% renew. Year ago? No. 10.
No. 12 East Bay: 94% full; vacancies last 43 days, get 7 looks, as 45% renew. Year ago? No. 11.
Indeed even with all the migration talk : CA Golden State has 4th ‘stickiest’ population in US
*Credit OC Register
