Santa Clarita ranked fourth for fastest year-over-year rent growth among medium-sized cities throughout the Los Angeles metro, according to a recent report by Apartment List.
The rent report for July tracked rent growth, median prices and market trends, revealing that rents have remained flat over the past month but have increased significantly by 4.3% year-over-year.
Median rents in Santa Clarita stand at $2,080 for a one-bedroom apartment and $2,680 for a two-bedroom. The city’s year-over-year growth leads the state average of 1.2% and the national average of 1.6%, according to the report.
At a broader look, rent increases have been occurring across the entire metro. Irvine saw the most expensive rents of the largest cities in the L.A. metro area, with a two-bedroom median of $2,730. Lancaster had the least expensive rates in the area with a two-bedroom median of $1,620.
When compared to most large cities across the nation, Santa Clarita was considered less affordable for renters in July.
“Renters will generally find more expensive prices in Santa Clarita than most large cities,” the report read. “For example, Houston has a median two-bedroom rent of $1,030, where Santa Clarita is more than two-and-a-half times that price.”
To see the full report, visit apartmentlist.com.