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7 California Cities Where Rent Prices Are Plummeting

June 6, 2024

2 min Read

Written by Gabrielle Olya

Edited by Levi Leidy

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In the U.S. on average, rent prices for one- and two-bedrooms increased by 1.2% over the past month — the first time monthly growth rates have exceeded 1% in the past 20 months, Zumper reported.

On an annual basis, the national average rent for a one-bedroom remained flat, while two-bedrooms increased by 0.5%, the report found. However, many major cities in California are bucking this trend and have actually seen rent prices fall due to shrinking demand.

Here’s a look at the major cities in California where rent prices have decreased over the past year.

1. Oakland, California

Annual change in rent prices: -9.1%

2. Sacramento, California

Annual change in rent prices: -8.1%

3. Los Angeles

Annual change in rent prices: -5%

4. San Jose, California

Annual change in rent prices: -2.3%

5. San Francisco

Annual change in rent prices: -1.7%

6. San Diego

Annual change in rent prices: -1.3%

7. Long Beach, California

Annual change in rent prices: -1.1%

All data is sourced from Zumper and is accurate as of May 28, 2024.

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Advertiser Disclosure

7 California Cities Where Rent Prices Are Plummeting

Commitment to Our Readers

1. Oakland, California

2. Sacramento, California

3. Los Angeles

4. San Jose, California

5. San Francisco

6. San Diego

7. Long Beach, California

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1. Oakland, California

2. Sacramento, California

3. Los Angeles

4. San Jose, California

5. San Francisco

6. San Diego

7. Long Beach, California

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