Pacific Grove, 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 Pacific Grove, California rental market.
Pacific Grove, California
Average Apartment Rent
$2,774
Y-o-Y Change in Average
Apartment Rent
6.7%
As of November 2024
Compared to a year ago, Pacific Grove, California apartments have recorded a 6.7% rent increase.
Pacific Grove, California Average apartment rent trend
Pacific Grove, California Average Apartment Rent
Pacific Grove, California Apartment rent ranges
At 90.38%, apartments priced Over $2,000 represent the bulk of Pacific Grove, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 9.62%.
Pacific Grove, California Housing tenure**
Renters take up 51% of Pacific Grove, California real estate, occupying a total of 3,505 units, while homeowners live in 3,355 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$81,419
Average household size of renter-occupied housing units**
1.98
Rental vacancy rate**
6.3%
Pacific Grove, California Renter-occupied housing units by no. of bedrooms**
There are 1,785 rentals in Pacific Grove, California with 2 beds making up the highest share of the market, at 51%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 79 units. Overall, the median number of rooms in Pacific Grove, California homes for rent is 3.8.
Pacific Grove, California Renter-occupied units by age of householder**
Most condos for rent in Pacific Grove, California are occupied by residents in the 25 - 34 years age group (24%), followed by those in the 45 - 54 years age group (16%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 3%.
Pacific Grove, California Renter-occupied housing units by family type**
Pacific Grove, California Renter-occupied housing units by the presence of own children**
A total of 1,638 apartments for rent in Pacific Grove, California, or 47% of all rentals are family households. Additionally, 20% of rental homes include children under the age of 18 – that’s 697 units. All in all, the median size of a renter-occupied household in Pacific Grove, California is 1.98.
Pacific Grove, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 56% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Pacific Grove, California.
Pacific Grove, California Renter-occupied units by year structure built**
The highest share of Pacific Grove, California apartment rentals, namely 22% or 770 units, were Built 1960 - 1969, followed by those Built 1939 or earlier (20%, 709 units), and the ones Built 1950 - 1959 (17%, 586 units).
Pacific Grove, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Pacific Grove, California renters (36%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Pacific Grove, California condos for rent is 2017.
Pacific Grove, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Pacific Grove, California renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 8% have No vehicle available.
Pacific Grove, California Means of transportation to work of householders living in renter-occupied housing units**
Pacific Grove, 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 Pacific Grove, 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
