Where’s the toughest place to find an apartment in California?
How many looks: Who will you fight off? 11 prospective tenants per unit in the most competitive markets – 10 for least competitive.
Renewal rate: A popularity measure shows 54% of tenants stay in their unit in most competitive markets – 51% for least competitive.
New choices: 2.2 new units have entered the market per 1,000 old apartments in the most competitive places – 4.6 for least competitive.
Details
Here are the 12 California rental markets, ranked on RentCafe’s competitiveness scale – from hard-to-rent to easier – and those variables behind the gradings …
No. 1 Silicon Valley: 5% vacant, 40 days vacant, 12 looks, and no new units. It was California’s third-toughest market in RealCafe’s early 2024 rankings.
No. 2 Orange County: 4% vacant, 44 days vacant, 12 looks, and 3.8 per 1,000 existing rentals. No. 1 in early 2024.
No. 3 Eastern Los Angeles County: 4% vacant, 45 days vacant, 14 looks, and no units. No. 4 in early 2024.
No. 4 San Diego: 5% vacant, 43 days vacant, 10 looks, and 0.6 new per 1,000. No. 2 in early 2024.
No. 5 Central Valley: 4% vacant, 45 days vacant, 10 looks, and 3.5 new per 1,000. No. 5 in early 2024.
No. 6 Central Coast: 4% vacant, 46 days vacant, 10 looks, and 5 new per 1,000. No. 6 in early 2024.
No. 7 Sacramento: 6% vacant, 47 days vacant, 10 looks, and 1.7 new per 1,000. No. 7 in early 2024.
No. 8 North Los Angeles County/Ventura County: 5% vacant, 48 days vacant, 11 looks, and 4.5 new per 1,000. No. 8 in early 2024.
No. 9 Inland Empire: 6% vacant, 51 days vacant, 12 looks, and 4.8 new per 1,000. No. 10 in early 2024.
No. 10 San Francisco Peninsula/North Bay: 7% vacant, 44 days vacant, 7 looks, and 5.8 new per 1,000. No. 9 in early 2024
No. 11 East Bay: 7% vacant, 48 days vacant, 9 looks, and 5.4 new per 1,000. No. 12 in early 2024.
No. 12 Western Los Angeles County: 7% vacant, 46 days vacant, 9 looks, and 5.6 new per 1,000. No. 11 in early 2024.
Bottom line
California isn’t very renter friendly. Using average scores, here’s what the typical California apartment hunter faces compared to RentCafe’s national norms …
Competitiveness score: Perhaps surprisingly, California is lower – 72.7 compared to 73.4 US.
Empty units: California has fewer vacancies – 5.3% compared to 6.7% US.
Vacancy length: California is at the national norm of 46 days.
How many looks: California’s higher – 11 compared to eight US.
Renewal rate: California switch landlords more often – 52% compared to 62% US.
New choices: California construction pace is slower – 3.4 new units per 1,000 compared to 6.1 US.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
