Nine Southern California cities see rent rises while most markets cool

Rental platform Zumper reports that nine cities in the Los Angeles and San Diego metros posted higher median asking rents for both one- and two-bedroom homes, while 29 of the 41 markets saw price declines in at least one category. The cities facing increases—Carlsbad, Corona, Downey, Oceanside, Riverside, San Bernardino, San Marcos, Torrance and Vista—saw one-bedroom rents average about $2,040, up 2.6%, and two-bedroom rents about $2,700, up 4.7%.

San Marcos led the gains for one-bedrooms with a 9.5% rise to $2,430, and San Bernardino posted the largest jump for two-bedrooms at 8.1% to $2,000. Conversely, Lancaster recorded the biggest one-bedroom drop at 11.9% to $1,560, and Oxnard saw two-bedroom rents fall 9.5% to $2,770. Zumper attributes the mixed movements to differences in housing inventory, with tighter supply pushing rents up and ample units allowing prices to fall. The report also notes that rent growth in Southern California remains modest compared with San Francisco’s sharp increases.