Madera, 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 Madera, California rental market.
Madera, California
Average Apartment Rent
$1,530
Y-o-Y Change in Average
Apartment Rent
5.3%
As of July 2024
Compared to a year ago, Madera, California apartments have recorded a 5.3% rent increase.
Madera, California |Average apartment rent trend
Madera, California| Average apartment rent
Madera, California | Apartment rent ranges
At 60.13%, apartments priced $1,500 - $2,000 represent the bulk of Madera, California rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.62%.
Madera, California | Housing tenure**
Renters take up 49% of Madera, California real estate, occupying a total of 8,334 units, while homeowners live in 8,537 properties.
Median number of rooms of renter-occupied housing units**
4.6
Renter median household income**
$40,000
Average household size of renter-occupied housing units**
4.03
Rental vacancy rate**
3.4%
Madera, California | Renter-occupied housing units by no. of bedrooms**
There are 2,949 rentals in Madera, California with 2 beds making up the highest share of the market, at 35%. Units with No bedrooms, on the other hand, hold the lowest percentage (5%), amounting to 455 units. Overall, the median number of rooms in Madera, California homes for rent is 4.6.
Madera, California |Renter-occupied units by age of householder**
Most condos for rent in Madera, California are occupied by residents in the 35 - 44 years age group (27%), followed by those in the 25 - 34 years age group (26%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Madera, California | Renter-occupied housing units by family type**
Madera, California | Renter-occupied housing units by the presence of own children**
A total of 6,784 apartments for rent in Madera, California, or 81% of all rentals are family households. Additionally, 64% of rental homes include children under the age of 18 – that’s 5,300 units. All in all, the median size of a renter-occupied household in Madera, California is 4.03.
Madera, California | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 5% of the rental market. In contrast, residents with less than a high school degree reside in 50% of the homes for rent in Madera, California.
Madera, California | Renter-occupied units by year structure built**
The highest share of Madera, California apartment rentals, namely 25% or 2,116 units, were Built 1970 - 1979, followed by those Built 2000 - 2009 (21%, 1,722 units), and the ones Built 1990 - 1999 (13%, 1,069 units).
Madera, California | Renter-occupied units by year householder moved in**
Median year renter moved into unit2015
Most Madera, California renters (58%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Madera, California condos for rent is 2015.
Madera, California | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 39% of Madera, California renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 12% have 3 vehicles available.
Madera, California | Means of transportation to work of householders living in renter-occupied housing units**
Madera, California |Geographical mobility in the past year for householders living in renter-occupied housing units**
Madera, California | Average apartment rent by zip codes
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 Madera, 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
