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California’s rents rank as the 5th highest in the US on a per square foot basis – Daily News


A recent study conducted by RentCafe in March 2024 revealed the harsh reality of California’s housing market. The state’s high rents, combined with small apartment sizes, are taking a toll on tenants’ wallets.

California ranks fifth in the nation for the most expensive rents, with an average of $2.96 per square foot – 55% higher than the national average of $1.91. Only Washington, D.C., New York, Massachusetts, and Hawaii have higher costs per square foot.

In addition to high rents, Californians face small living spaces, with the state’s average apartment size being the 11th smallest at 851 square feet, 5% below the national average of 899 square feet. This combination of high prices and limited space is creating a difficult situation for California renters.

Comparing rents to income, California ranks third in the nation for affordability challenges, with rents eating up 38% of renters’ paychecks. Only Hawaii and New York have a larger percentage of income going towards rent.

With more affordable housing options available in states like North Dakota, Wyoming, and South Dakota, California’s housing market continues to pose challenges for residents. Tenants in Texas and Florida also face significant affordability issues compared to renters in other states.

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