A new study found that Santa Clarita ranks No. 18 among medium-sized cities nationwide for year-over-year rent growth. It’s also the city with the fastest rent growth in the Greater Los Angeles metropolitan area.
Santa Clarita Signal wrote about the Apartment List study, which crunched data on rent growth, median prices and market trends for March.
“Santa Clarita rents have increased 1.7 percent over the past month and have increased moderately by 3.1 percent in comparison to the same time last year,” the report read.
By comparison, the national rent index rose just 1.3 percent over the past year.
Santa Clarita median rents averaged $2,030 for a one-bedroom apartment and $2,600 for a two-bedroom apartment. Data showed that the city’s year-over-year rent growth leads the state average of 1.1 percent and the national average of 1.3 percent, or median monthly payment of $1,170.
The Apartment List study, which culled data for 10 cities across the Southern California region, identified Irvine as the most expensive place to rent, with a two-bedroom apartment averaging $2,670. Conversely, Lancaster in the Antelope Valley had the least expensive rents, with the median for two bedrooms hovering at $1,580.