California’s rental market remains one of the most expensive in the United States, with cities like Los Angeles and Santa Monica regularly topping the charts. However, a recent report reveals that despite their steep rental prices, these cities are not the priciest in the country.
According to data from Zillow, the top seven most expensive cities for renters in the U.S. as of December 2024 are:
- New York City: The leader, with an average rent of $3,500 per month.
- Boston: Following close behind, with an average of $3,200 per month.
- San Diego: At $3,175 per month, it leads California cities.
- San Francisco: Once the priciest in California, it now averages $3,168 per month.
- Los Angeles: With a monthly average of $2,983, it remains a top-tier rental market.
- San Jose: Offering an average rent of $2,570 per month.
- Santa Monica: At $2,500 per month, it rounds out the top California cities.
Notably, New York City continues to dominate as the most expensive rental market in the nation, while Boston has surged into second place. Meanwhile, California cities occupy five of the top seven spots, reflecting the state’s persistent housing affordability challenges.
California’s Rental Trends
The median rent across California now stands at $2,800 per month, a modest $5 increase from December 2023. While this represents a significant premium over the national median—currently $788 less than California’s figure—the month-over-month rent in the state remained stable from November to December 2024.
These steady numbers mask deeper concerns. California cities like Los Angeles and Santa Monica continue to grapple with high housing demand and limited supply, driving up costs. For many renters, these conditions make affordability a persistent challenge, especially in coastal areas where competition for housing remains fierce.
Broader Implications
The high rental costs in cities like Los Angeles and Santa Monica highlight the growing economic pressures on residents. With median rents far above the national average, the struggle for affordable housing has become a defining feature of California’s urban landscape. Cities like San Diego and San Francisco, once considered unattainable for many renters, now compete closely with emerging East Coast markets such as Boston.
While California’s rental market doesn’t top the national charts, the state’s prominence in the rankings underscores the importance of addressing housing supply and affordability. These issues are critical not just for renters but for the broader economic health of the state.
For renters in California, navigating these costs remains a challenge, but recent stabilization may provide some hope for relief in the near future.
Source: Santa Monica Mirror