Rent prices are down year–over–year in California ’s largest metropolitan areas, except Los Angeles.
According to December 2023 data from Rent.com , Sacramento saw the largest shift with rents falling over 6.5% to a median of $2,537 monthly. In the Riverside metro area, rent prices fell by more than 3.5%.
San Francisco and San Diego saw smaller decreases.
In California’s largest city, however, rent prices were up year-over-year. The analysis found that Los Angeles saw median rents rise to $3,515 per month in December, 4% higher than December 2022.
Statewide, the median rent was $2,941 per month, largely flat over the previous year.
| Metro Area | Population | Median Rent | YoY % Change | MoM % Change |
| Los Angeles, CA | 12,997,353 | $3,515 | 4.06% | −2.25% |
| San Diego, CA | 3,286,069 | $3,270 | −0.24% | −2.52% |
| San Francisco, CA | 4,623,264 | $3,631 | −1.06% | −0.68% |
| Riverside, CA | 4,653,105 | $2,575 | −3.74% | −3.54% |
| Sacramento, CA | 2,411,428 | $2,537 | −6.65% | 1.95% |
| California | $2,941 | −0.47% | −0.94% |