10 months ago
29
FRESNO, Calif. (KSEE/KGPE) - A caller study has ranked the Central Valley arsenic the 3rd "hottest" rental marketplace successful California during the 2024 highest season, making it 1 of the astir competitory markets and astir hard to rent in.
According to the study by Rent Café, precocious occupancy rates, accrued competition, and minimal caller operation are tightening the Central Valley's rental marketplace during this highest season.
Rent Café says the wide marketplace has go importantly much competitory than past twelvemonth with 96.0% of apartments occupied successful 2024, compared to 95.9% successful 2023.
The Central Valley earned a rental competitiveness people of 77.1 owed to respective factors including
- Intensified competition: 11 prospective renters are vying for each disposable unit
- More renters staying put: the lease renewal complaint has risen to 53.3% from 52.6%, further limiting available units
- Minimal New Supply: New flat proviso has lone marginally accrued to 0.08% from 0.06% past year, severely limiting options for renters seeking caller units
Rents Café says those expecting an easier renting season successful California's Central Valley this twelvemonth mightiness unluckily request to set their expectations.
