Gen Zers who dream of living and working in California need to make sure their savings can cover monthly rent payments. While there are still a few cities where renters can expect to pay less than $2,000 a month, many more across Northern and Southern California charge more than $2,000 in monthly rent.
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GOBankingRates was able to find out how much average apartments cost nationwide by analyzing data from the U.S. Census American Community Survey, Sperling’s BestPlaces, ApartmentList and the Zillow Home Value Index. A full methodology is available at the end of this story.
Keep reading to discover how much rent Gen Zers pay in 16 California cities.
Los Angeles
- Household median income: $76,244
- Total annual cost of living: $53,112
- Overall average rent: $2,067
- 1-bedroom average rent: $1,849
- 2-bedroom average rent: $2,357
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San Diego
- Household median income: $98,657
- Total annual cost of living: $53,339
- Overall average rent: $2,274
- 1-bedroom average rent: $1,938
- 2-bedroom average rent: $2,429
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San Jose
- Household median income: $136,010
- Total annual cost of living: $61,409
- Overall average rent: $2,679
- 1-bedroom average rent: $2,331
- 2-bedroom average rent: $2,766
San Francisco
- Household median income: $136,689
- Total annual cost of living: $61,883
- Overall average rent: $2,620
- 1-bedroom average rent: $2,645
- 2-bedroom average rent: $3,135
Fresno
- Household median income: $63,001
- Total annual cost of living: $40,313
- Overall average rent: $1,326
- 1-bedroom average rent: $1,050
- 2-bedroom average rent: $1,295
Sacramento
- Household median income: $78,954
- Total annual cost of living: $45,966
- Overall average rent: $1,643
- 1-bedroom average rent: $1,347
- 2-bedroom average rent: $1,702
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Long Beach
- Household median income: $78,995
- Total annual cost of living: $48,471
- Overall average rent: $1,737
- 1-bedroom average rent: $1,552
- 2-bedroom average rent: $1,901
Oakland
- Household median income: $94,389
- Total annual cost of living: $51,887
- Overall average rent: $2,021
- 1-bedroom average rent: $1,850
- 2-bedroom average rent: $2,220
Anaheim
- Household median income: $88,538
- Total annual cost of living: $52,768
- Overall average rent: $2,271
- 1-bedroom average rent: $1,948
- 2-bedroom average rent: $2,404
Riverside
- Household median income: $83,448
- Total annual cost of living: $48,344
- Overall average rent: $1,783
- 1-bedroom average rent: $1,478
- 2-bedroom average rent: $1,776
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Santa Ana
- Household median income: $84,210
- Total annual cost of living: $51,710
- Overall average rent: $2,215
- 1-bedroom average rent: $1,942
- 2-bedroom average rent: $2,290
Irvine
- Household median income: $122,948
- Total annual cost of living: $61,081
- Overall average rent: $2,986
- 1-bedroom average rent: $2,534
- 2-bedroom average rent: $3,106
Chula Vista
- Household median income: $101,984
- Total annual cost of living: $54,806
- Overall average rent: $2,360
- 1-bedroom average rent: $1,734
- 2-bedroom average rent: $2,269
Fremont
- Household median income: $169,023
- Total annual cost of living: $59,455
- Overall average rent: $2,626
- 1-bedroom average rent: $2,183
- 2-bedroom average rent: $2,645
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Santa Clarita
- Household median income: $116,186
- Total annual cost of living: $55,644
- Overall average rent: $2,470
- 1-bedroom average rent: $2,007
- 2-bedroom average rent: $2,442
Moreno Valley
- Household median income: $82,637
- Total annual cost of living: $50,248
- Overall average rent: $1,897
- 1-bedroom average rent: $1,568
- 2-bedroom average rent: $1,784
Methodology: For this study, GOBankingRates analyzed the average rental cost of major US cities and the cost of living in those cities. First, GOBankingRates found the 100 most populated cities, according to the U.S. Census American Community Survey. For each city, GOBankingRates found total population, total households, population ages 65 and over and household median income, all sourced from the American Community Survey; the cost-of-living indexes, as sourced from Sperling’s BestPlaces; the average overall rental cost, one-bedroom rental cost and two-bedroom rental cost, all sourced from ApartmentList; the average cost of a condo or co-op, as sourced from Zillow Home Value Index, and the livability index, as sourced from AreaVibes. The cost-of-living indexes and the national average expenditure costs for all residents were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/co-op value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate, the average mortgage was calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city was calculated. All data was collected on and is up to date as of Sept. 13, 2024.
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This article originally appeared on GOBankingRates.com: Gen Z: Here’s What Rent Will Cost You in These 16 California Cities
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