In early 2024, California renters faced the fifth-highest rental costs in the U.S. at $2.96 per square foot. Despite this, the average apartment size in California was 11th-smallest at 851 square feet. Comparatively, North Dakota offered the most affordable rental prices at $1.08 per square foot. The high cost of renting in California, averaging $2,521 a month, made it the fourth most expensive state to rent in.
California renters also faced challenges with affordability, as monthly rents accounted for 38% of the state’s per-capita income, ranking it as the third biggest affordability challenge in the nation. This makes it difficult for renters to find spacious and affordable housing in California.
Overall, the cost of renting in California is significantly higher than the national average, and with limited space available for tenants, it poses a significant burden on residents. Other pricey rental markets include New York, Massachusetts, and Hawaii, while more affordable options can be found in North Dakota, Oklahoma, and Arkansas.
Jonathan Lansner, a business columnist for the Southern California News Group, highlighted the challenges facing California renters in his examination of the state’s rental market. With high costs and limited space, many Californians are struggling to find affordable housing in the state.
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