Where is the hardest place to find an apartment in California? – The Ukiah Daily Journal

RentCafe Tenant Competitiveness Scores. (Source: RentCafe)

“The survey says” analyzes various rankings and scorecards that judge geographic locations and notes that these ratings are best viewed as a combination of clever interpretation and data.

Buzz: Silicon Valley ranks as the hardest place to find an apartment in California, and western Los Angeles County is the easiest.

Fountain: My trusty spreadsheet analyzed the California portion of RentCafe’s mid-year study of apartment markets across the country. The analysis revealed the most competitive places to find a rental in larger apartment complexes. The report included 12 markets in the Golden State.

Top line

Nationally, four of California’s 12 markets had above-average competitiveness ratings.

Silicon Valley was the sixth hardest place to find an apartment nationwide. Orange County was No. 8, East Los Angeles County was No. 9, and San Diego County was No. 16.

But let’s break down the numbers that create these ratings to see what an apartment seeker in California might find when looking for a new place. Consider the average metrics for the state’s six tightest markets and how they compare to six more renter-friendly regions.

Empty units: This availability scoreboard shows that 4.4% of units were vacant in the six most competitive markets. Vacancies were 6.3% in the six least competitive markets.

Duration of vacancy: How quickly should tenants act? In the most competitive markets, units are not rented for 44 days and in the least competitive, for 47 days.

How many glances?: Who will you be fighting against? 11 potential tenants per unit in the most competitive markets, 10 in the least competitive.

Renewal rate: A measure of popularity shows that 54% of renters remain in their unit in the most competitive markets and 51% in the least competitive ones.

New options: In the most competitive areas, 2.2 new units have entered the market for every 1,000 old apartments – 4.6 in the least competitive areas.

Details

Here are California’s 12 rental markets, ranked on RentCafe’s competitiveness scale (from hard to rent to easiest) and the variables behind the ratings…

N°1 Silicon Valley: 5% vacant, 40 days vacant, 12 viewings and no new units. It was the third toughest market in California in RealCafe’s early 2024 rankings.

No. 2 Orange County: 4% vacancy, 44 days vacancy, 12 visits and 3.8 per 1,000 existing rentals. #1 by early 2024.

No. 3 East Los Angeles County: 4% vacant, 45 days vacant, 14 viewings and no units. #4 in early 2024.

No. 4 San Diego: 5% vacant, 43 days vacant, 10 views and 0.6 new listings per 1,000. #2 in early 2024.

No. 5 Central Valley: 4% vacant, 45 days vacant, 10 views and 3.5 new views per 1,000. #5 in early 2024.

No. 6 Central Coast: 4% vacant, 46 days vacant, 10 views and 5 new ones per 1,000. No. 6 at the beginning of 2024.

No. 7 Sacrament: 6% vacant, 47 days vacant, 10 views and 1.7 new listings per 1,000. #7 by early 2024.

No. 8 North Los Angeles County/Ventura County: 5% vacancy, 48 days vacancy, 11 looks and 4.5 new ones per 1,000. No. 8 at the beginning of 2024.

No. 9 Inland Empire: 6% vacant, 51 days vacant, 12 views and 4.8 new listings per 1,000. #10 by early 2024.

No. 10 San Francisco Peninsula/North Bay: 7% vacant, 44 days vacant, 7 views and 5.8 new ones per 1,000. No. 9 at the beginning of 2024.

No. 11 East Bay: 7% vacant, 48 days vacant, 9 views and 5.4 new listings per 1,000. #12 by early 2024.

No. 12 West Los Angeles County: 7% vacant, 46 days vacant, 9 views and 5.6 new listings per 1,000. #11 by early 2024.

Bottom line

California is not a very renter-friendly state. Based on average scores, here’s what the typical California apartment seeker faces compared to national RentCafe standards…

Competitiveness Score: Perhaps surprisingly, California has a lower score: 72.7 compared to 73.4 in the United States.

Empty units: California has fewer vacancies: 5.3% compared to 6.7% in the US.

Duration of vacancy: California is at the national standard of 46 days.

How many glances?: California’s is higher: 11, compared to eight in the United States.

Renewal rate: California changes ownership more frequently: 52% compared to 62% in the US.

New options: The pace of construction in California is slower: 3.4 new units per 1,000, compared with 6.1 in the United States.

Jonathan Lansner is a business columnist for the Southern California News Group. He can be reached at [email protected]