Welcome to the January 2015 California Rental Price Monitor! California has some of the highest rents in the country, and in many places they’re still growing quickly. In this report, we’ll be looking at trends across the whole state as well as variations between cities.

California rent prices

In California, 1 bedroom and 2 bedroom rents both increased by 0.6% between December and January. They are now up 6.1% and 5.2% over the last year at median prices of $1,190 and $1,410, respectively. These figures are both higher than the national averages. The state’s 1 bedroom rent is $340 more and 40% higher than the national average price of $850, and the average 2 bedroom rent is $460 more and 48% higher than the average national cost of $950 for a 2 bedroom apartment.

Top 10 most expensive cities

• San Francisco: Unsurprisingly, San Francisco had the highest rents statewide with a 2 bedroom median rent of $4,420. San Francisco was also the most expensive city for 1 bedroom rents at $3,430 and saw a 2.5% month-to-month growth for 1 bedroom rent.
• Laguna Beach: Not only was Laguna Beach the second most expensive city, but it had the strongest month-to-month rent growth of the top 10 cities, based on 2 bedroom figures. Rent grew by 2.4% between December and January for a 2 bedroom in the city, bringing two bedroom units to a median price of $4,300.
• Marina del Ray: Although Marina del Ray ranked in at No. 3 of most expensive cities, it had the sharpest month-to-month decline out of the top 10 for 2 bedroom rents. Rent decreased by 2.6% between December and January. Renting a 2 bedroom in Marina del Ray has a median price tag of $3,280.

Top 10 cities with the fastest rent growth

• Sunnyvale: Sunnyvale was the sixth most expensive city at a 2 bedroom rent price of $2,720, but it had the strongest year-to-year growth at 14.2%. Month to month, two bedroom rent in Sunnyvale increased by 1%.
• Fremont: Fremont didn’t make the cut for one of the most expensive cities in California. However, it had the second strongest year-to-year rent growth at 13.7%, based on 2 bedroom figures. Renting a 2 bedroom apartment in Fremont runs a median cost of $2,140.
• Pleasanton: Pleasanton ranked no. 10 in the top most expensive cities in California, based on 2 bedroom rents. It also has the third strongest year-to-year rent growth at 12.5%. The median rent price for a 2 bedroom apartment is $2,320.

Full Data: