Santa Clarita rents have increased by 2.5% in comparison to the past year, marking the city with the 19th-fastest growth rate among the nation’s medium-sized cities, according to a recent report by Apartment List.
The study looked at rent growth, median prices and market trends for Santa Clarita and surrounding cities across the Los Angeles metro area during the month of September.
Current median rents reached $2,081 for a one-bedroom apartment and $2,673 for a two-bedroom, placing the city above the national average of $1,189 for two rooms. After an increase in July, Santa Clarita has seen rent decreases for the past two months around 0.3%, according to the report.
On a larger scale, however, rents have increased over the past year within the city and across the entire metro area. Santa Clarita saw the fastest rent growth among nine other cities for which Apartment List compiled data, which was a year-over-year increase of 2.5%.
Of those 10 studied, Lancaster had the lowest median rents for a two-bedroom apartment at around $1,600 and $1,250 for a one-bedroom. Irvine reached the most expensive rents at $2,750 for a two-bedroom and $2,140 for a one-bedroom, falling just ahead of Santa Clarita.
Renters will generally find more expensive rates in Santa Clarita than other large cities, according to the report.
When it comes to home prices, “the Santa Clarita Valley will remain much more affordable than other parts of California,” read the 2019 SCV Economic Outlook, adding, “Because the Santa Clarita Valley has high incomes and moderately priced homes, many families can afford to live comfortably.”
To see the complete report, visit apartmentlist.com.