Silicon Valley’s rental market has climbed from 20th place last year to 16th nationwide in early 2025, according to RentCafe’s quarterly rental market competitiveness report. This surge follows a late 2024 shift where Silicon Valley overtook Orange County as California’s most competitive rental market.
Key factors include a high average renter stay of 31 months, surpassing the national average of 28 months. Lease renewals rose to 53.8% from 46.5% a year earlier, with 10 renters now competing for each available apartment, up from nine in early 2024.
Despite a 0.93% increase in new apartments, occupancy rates remain high at 95.1%. Available units now sit on the market for 39 days, slightly longer than a year ago.…