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[80] [81] [82] In the rental market, California now has the lowest vacancy rate the state has ever seen, at 3.6%; [83] and while the median rent throughout the state for a two-bedroom apartment is $2,400, the median rent in coastal urban areas is even higher, surpassing $4,000 per month in San Francisco. [84]: 1
Average rent for a two-bedroom apartment: $1,694 Methodology: For this study, GOBankingRates analyzed cities in California and Texas to find the average price for apartments by bedroom size ...
Finding a rent-controlled apartment can reduce future rate increases. In Los Angeles, for example, rent-controlled properties limit the landlord to one rent increase each year at a limited percentage.
More than half a dozen affordable housing projects in California are costing more than $1 million per apartment to build, a record-breaking sum that makes it harder to house the growing numbers of ...
In 2016, The Guardian reported that the average SRO rents in San Francisco's Chinatown are increasing from $610 in 2013, to $970 in 2015 (the average rent for all rental housing was $3,907). [40] The increase in SRO rents is due to the shift away from renting to Chinese immigrants towards "college graduates, single adults and white people". [40]
Measuring affordable housing is tricky. Different organizations look at different things: some at buying homes, others at renting apartments. Many U.S. studies, for example, only consider the average rent of a two-bedroom apartment, regardless of location or quality. This can make housing look more expensive than it actually is for many people.
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