Cost of renting in Santa Clarita increases seven percent in a year

Houses in the Santa Clarita Valley near Copper Hill Drive. Katharine Lotze/Signal
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Renting an apartment in Santa Clarita is 7.0 percent more expensive than it was a year ago, Apartment List Inc. reported Monday.

As of the first of May, a one-bedroom apartment in Santa Clarita costs $1,770 and a two-bedroom costs $2,000.

This month’s rent prices are a 1.8 percent increase from last month.

The city of Los Angeles remains the most expensive place to rent a two-bedroom apartment, where the medium cost is $2,750 a month. A one-bedroom is $1,930, a 0.2 percent increase from last month and a 4.9 percent increase from last year.

Nationally, rents are up 2.4 percent since last year and 0.4 percent since last month.

Glendale has the most expensive one-bedrooms in the region, as the medium in May is $2,000. A Glendale two-bedroom is $2,530.

Lancaster boasts the most inexpensive rents in the region with one-bedrooms costing $940 and two-bedrooms costing $1,000.

Garden Grove experienced the highest yearly price change, with an increase of 7.2 percent since last May. However, Garden Grove’s monthly rates are down 0.8 percent since April, as a one bedroom now costs $1,490 and a two-bedroom is $1,760.

Irvine had the second highest two-bedroom costs in Southern California with $2,650 rent. A one-bedroom in Irvine is $1,970, a 0.7 percent from April and a 4.7 percent increase from May 2016.

The only city listed not to have changed rental prices fluctuate per month is Long Beach, which still has $1,450 one-bedroom rents and $2,000 two-bedrooms. However, L.A. County’s second largest city is up 5.2 percent since last year.

 

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