Lake Elsinore, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lake Elsinore, California rental market.
Lake Elsinore, California
Average Apartment Rent
$2,102
Y-o-Y Change in Average
Apartment Rent
-0.3%
As of June 2026
Compared to a year ago, Lake Elsinore, California apartments have recorded a -0.3% rent decrease.
Lake Elsinore, California Average apartment rent trend
Lake Elsinore, California Average Apartment Rent
Lake Elsinore, California Apartment rent ranges
At 47.71%, apartments priced $2,000 - $2,500 represent the bulk of Lake Elsinore, California rentals, while condos priced Over $3,000 hold the lowest share of the market – 1.5%.
Lake Elsinore, California Housing tenure**
Renters take up 30% of Lake Elsinore, California real estate, occupying a total of 5,963 units, while homeowners live in 14,041 properties.
Median number of rooms of renter-occupied housing units**
4.7
Renter median household income**
$58,600
Average household size of renter-occupied housing units**
3.2
Rental vacancy rate**
3.7%
Lake Elsinore, California Renter-occupied housing units by no. of bedrooms**
There are 1,592 rentals in Lake Elsinore, California with 3 beds making up the highest share of the market, at 27%. Units with 5 or more beds, on the other hand, hold the lowest percentage (4%), amounting to 252 units. Overall, the median number of rooms in Lake Elsinore, California homes for rent is 4.7.
Lake Elsinore, California Renter-occupied units by age of householder**
Most condos for rent in Lake Elsinore, California are occupied by residents in the 25 - 34 years age group (33%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Lake Elsinore, California Renter-occupied housing units by family type**
Lake Elsinore, California Renter-occupied housing units by the presence of own children**
A total of 4,356 apartments for rent in Lake Elsinore, California, or 73% of all rentals are family households. Additionally, 43% of rental homes include children under the age of 18 – that’s 2,549 units. All in all, the median size of a renter-occupied household in Lake Elsinore, California is 3.2.
Lake Elsinore, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 15% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in Lake Elsinore, California.
Lake Elsinore, California Renter-occupied units by year structure built**
The highest share of Lake Elsinore, California apartment rentals, namely 26% or 1,573 units, were Built 2000 - 2009, followed by those Built 1980 - 1989 (21%, 1,277 units), and the ones Built 1990 - 1999 (14%, 846 units).
Lake Elsinore, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Lake Elsinore, California renters (53%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lake Elsinore, California condos for rent is 2016.
Lake Elsinore, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 35% of Lake Elsinore, California renters have 2 vehicles available per household, 35% of them have 1 vehicle available, and 15% have 3 vehicles available.
Lake Elsinore, California Means of transportation to work of householders living in renter-occupied housing units**
Lake Elsinore, California Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lake Elsinore, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
