Add The California Post on Google Southern California’s brutal rent squeeze appears to finally be loosening — but renters in nine unlucky cities are still getting hit with higher prices.
Median asking rents for both one- and two-bedroom homes increased year over year in just nine of 41 markets in Los Angeles and San Diego metros, according to new data from rental platform Zumper.
The holdouts were Carlsbad, Corona, Downey, Oceanside, Riverside, San Bernardino, San Marcos, Torrance and Vista.
Across those cities, one-bedroom listings averaged about $2,040 per month after increases averaging 2.6%. Two-bedroom asking rents averaged roughly $2,700 following an average 4.7% jump.
San Marcos delivered the biggest blow to one-bedroom renters, with its median price surging 9.5% to $2,430. Its two-bedroom rent climbed 7.2% to $2,990.
Renters seeking two bedrooms were squeezed hardest in San Bernardino, where prices soared 8.1% to $2,000. Corona followed with a 7.9% increase to $2,590.
At least one rental category declined in 29 of the 41 cities analyzed. Lancaster recorded the steepest one-bedroom drop, plunging 11.9% to $1,560, Zumper’s data showed.
Redondo Beach fell 7.4% to $2,500, while Coronado dropped 6.7% to a still eye-watering $4,200.
The biggest two-bedroom break came in Oxnard, where prices tumbled 9.5% to $2,770, Los Angeles dropped 6.9% to $2,970, while Glendale fell 6.6% to $2,710.
Anaheim, Long Beach and Hawthorne landed in the middle, each recording a flat price for one rental size and an increase for the other.
Zumper said rental markets are moving in different directions largely because of apartment supply. Renters retain more leverage where inventory remains plentiful, while prices are beginning to firm where available units are being absorbed.
Southern California’s increasing nevertheless pale beside San Francisco, where one-bedroom rents skyrocketed 22.9% to $4,180 and two-bedroom prices leaped $25.9% to a record $6,020, according to Zumper’s national report.
Zumper calculated the figures from active rental listings that hit the market in July.
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