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Year-over-year rent growth increases in SCV

Santa Clarita recently ranked as having the 16th-fastest year-over-year rent growth among cities with populations of at least 250,000, according to a recent report by Apartment List.

The September rent report by Apartment List revealed that rents have slightly declined by 0.3% over the past month, “but are up moderately by 3.1% in comparison to the same time last year.”

Median rents in Santa Clarita currently stand at $2,086 for a one-bedroom apartment and $2,681 for a two-bedroom, which is more than double the national average of $1,191, according to the report. Since 2014, rents in Santa Clarita have grown by 27.4%, outpacing the national average of 11.7%.

“Santa Clarita’s year-over-year rent growth leads the state average of 1%, as well as the national average of 1.5%,” the report states. 

Nancy Starczyk, president of the Southland Regional Association of Realtors, said while the numbers seem high, there’s a significantly smaller gap between Santa Clarita and other California cities.

“I believe Santa Clarita is about even with the state’s average,” said Starczyk, mentioning California is among the most expensive states in other aspects in addition to rent. “We’re so high in everything cost-of-living related because it’s California.

“It’s almost impossible to get into a home here because people can’t afford a down payment,” Starczyk added. “That’s part of the reason why we’re seeing people renting and why rents are skyrocketing as demand increases.”

To view the full report by Apartment List, visit bit.ly/SCVrent.

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