Where are California rents falling fastest?

California house rents fell for the second-consecutive month in October with pricing taking its largest one-month drop since not less than 2017.

My trusty spreadsheet reviewed ApartmentList’s month-to-month lease estimates in October for 44 giant California cities and located a 1.3% dip from September to a month-to-month median fee of $2,222. It’s the most important one-month decline in ApartmentList information going again to 2017.

October noticed lease cuts in 39 of 44 large cities. The place had been the most important declines – and what cities had the largest will increase? And what about one-year tendencies? Or how have rents moved since pre-coronavirus days?

Let’s take a peek at renting’s extremes inside these 44 cities utilizing ApartmentList’s October information.

Begin with the dimensions of the month-to-month examine …

Highest rents: Irvine was No. 1 at $3,200 a month, then got here Carlsbad at $3,040, Temecula at $2,784, Santa Clara at $2,723 and Simi Valley at $2,650.

Lowest rents: Fresno at $1,329, Sacramento at $1,656, Oakland at $1,666, Lengthy Seaside at $1,711 and Harmony at $1,860.

Subsequent, take a look at one-month lease adjustments …

Finest for tenants: Harmony was tops, off 3.3% from September to $1,860; then San Mateo, off 3.1% to $2,632; Sunnyvale, off 2.6% to $2,577; Temecula, off 2.5% to $2,784; and Pomona, off 2.4% to $1,959.

Worst: Irvine was No. 1 with a 0.6% improve from September to $3,200. Subsequent was Carlsbad, up 0.5% to $3,040; then Orange, up 0.4% to $2,367; Vista, up 0.3% to $2,357; and West Covina, up 0.1% to $2,273.

And the 12-month lease change?

Finest for tenants: Ventura was tops, off 4% since October 2021 to $2,059. No. 2 was Roseville, off 4% to $2,100; then Oakland, off 3% to $1,666; Ontario, flat at $2,181; and Costa Mesa, flat at $2,542.

Worst: Chula Vista’s 14% soar since October 2021 to $2,447 was the very best. Then Oceanside, up 14% to $2,639; Santa Clara, up 12% to $2,723; Vista, up 11% to $2,357; and Burbank, up 10% to $2,129.

And pricing for tenants from pre-pandemic October 2019?

Finest for tenants: Oakland was No. 1, down 14% in three years to $1,666. Subsequent was San Francisco, off 12% to $2,268; San Mateo, off 2% to $2,632; Sunnyvale, up 2% to $2,577; and San Jose, up 5% to $2,477.

Worst: Vista’s 40% hike since October 2019 to $2,357 was the very best. Then got here 39% will increase in Oceanside to $2,639; Moreno Valley to $2,171; Murrieta to $2,441; and Chula Vista to $2,447.

Jonathan Lansner is the enterprise columnist for the Southern California Information Group. He could be reached at jlansner@scng.com