Moreno Valley, 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 Moreno Valley, California rental market.
Moreno Valley, California
Average Apartment Rent
$2,171
Y-o-Y Change in Average
Apartment Rent
0.8%
As of November 2024
Compared to a year ago, Moreno Valley, California apartments have recorded a 0.8% rent increase.
Moreno Valley, California Average apartment rent trend
Moreno Valley, California Average Apartment Rent
Moreno Valley, California Apartment rent ranges
At 67.08%, apartments priced Over $2,000 represent the bulk of Moreno Valley, California rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 2.2%.
Moreno Valley, California Housing tenure**
Renters take up 37% of Moreno Valley, California real estate, occupying a total of 19,948 units, while homeowners live in 34,010 properties.
Median number of rooms of renter-occupied housing units**
4.7
Renter median household income**
$60,860
Average household size of renter-occupied housing units**
3.77
Rental vacancy rate**
2.8%
Moreno Valley, California Renter-occupied housing units by no. of bedrooms**
There are 6,179 rentals in Moreno Valley, California with 2 beds making up the highest share of the market, at 31%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 466 units. Overall, the median number of rooms in Moreno Valley, California homes for rent is 4.7.
Moreno Valley, California Renter-occupied units by age of householder**
Most condos for rent in Moreno Valley, California are occupied by residents in the 35 - 44 years age group (29%), followed by those in the 25 - 34 years age group (25%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Moreno Valley, California Renter-occupied housing units by family type**
Moreno Valley, California Renter-occupied housing units by the presence of own children**
A total of 15,961 apartments for rent in Moreno Valley, California, or 80% of all rentals are family households. Additionally, 54% of rental homes include children under the age of 18 – that’s 10,847 units. All in all, the median size of a renter-occupied household in Moreno Valley, California is 3.77.
Moreno Valley, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 16% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Moreno Valley, California.
Moreno Valley, California Renter-occupied units by year structure built**
The highest share of Moreno Valley, California apartment rentals, namely 32% or 6,326 units, were Built 1980 - 1989, followed by those Built 2000 - 2009 (21%, 4,239 units), and the ones Built 1990 - 1999 (18%, 3,588 units).
Moreno Valley, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Moreno Valley, California renters (51%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Moreno Valley, California condos for rent is 2016.
Moreno Valley, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 37% of Moreno Valley, California renters have 2 vehicles available per household, 30% of them have 1 vehicle available, and 17% have 3 vehicles available.
Moreno Valley, California Means of transportation to work of householders living in renter-occupied housing units**
Moreno Valley, 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 Moreno Valley, 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
