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California rent is increasing for everyone in the city except those who are renting out one-bedroom spaces. According to KTLA, rent is going up for those who inhabit studios and two-bedroom spaces in Los Angeles and other large cities throughout the state. Data derived from Rent.com shows that average rent prices fluctuate between "$2,262 and $5,095" depending on the size of the space, area in which it is located, and the amenities.
KTLA mentioned that despite rising prices of the previously mentioned spaces, prices of one-bedroom rentals are declining. In fact, one-bedroom spaces have decreased by 15% in the last year alone.
“My immediate takeaway is that the houses, townhouses, and condos for rent in Los Angeles are priced higher than apartments, which is driving the overall average up,” senior managing editor of Apartment Guide and Rent.com Brian Carberry told KTLA. Los Angeles is not the only city that is experiencing a decrease in rent prices. KTLA noted that San Francisco has seen a 1% decrease in the cost of one-bedroom apartments since last year.
While other cities are experiencing small dips in rent, Fresno and Long Beach one-bedroom apartments have decreased by greater percentages with Fresno seeing drops as steep as almost 29%.