Lake Forest, 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 Forest, California rental market.
Lake Forest, California
Average Apartment Rent
$2,837
Y-o-Y Change in Average
Apartment Rent
1.2%
As of November 2024
Compared to a year ago, Lake Forest, California apartments have recorded a 1.2% rent increase.
Lake Forest, California Average apartment rent trend
Lake Forest, California Average Apartment Rent
Lake Forest, California Housing tenure**
Renters take up 30% of Lake Forest, California real estate, occupying a total of 8,998 units, while homeowners live in 21,300 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$84,760
Average household size of renter-occupied housing units**
2.77
Rental vacancy rate**
4.6%
Lake Forest, California Renter-occupied housing units by no. of bedrooms**
There are 3,269 rentals in Lake Forest, California with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (3%), amounting to 234 units. Overall, the median number of rooms in Lake Forest, California homes for rent is 4.2.
Lake Forest, California Renter-occupied units by age of householder**
Most condos for rent in Lake Forest, California are occupied by residents in the 35 - 44 years age group (26%), followed by those in the 45 - 54 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 Forest, California Renter-occupied housing units by family type**
Lake Forest, California Renter-occupied housing units by the presence of own children**
A total of 5,708 apartments for rent in Lake Forest, California, or 63% of all rentals are family households. Additionally, 37% of rental homes include children under the age of 18 – that’s 3,292 units. All in all, the median size of a renter-occupied household in Lake Forest, California is 2.77.
Lake Forest, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 41% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Lake Forest, California.
Lake Forest, California Renter-occupied units by year structure built**
The highest share of Lake Forest, California apartment rentals, namely 33% or 2,977 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (26%, 2,356 units), and the ones Built 1990 - 1999 (19%, 1,677 units).
Lake Forest, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Lake Forest, California renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Lake Forest, California condos for rent is 2016.
Lake Forest, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 39% of Lake Forest, California renters have 2 vehicles available per household, 33% of them have 1 vehicle available, and 15% have 3 vehicles available.
Lake Forest, California Means of transportation to work of householders living in renter-occupied housing units**
Lake Forest, 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 Forest, 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
