Rancho Palos Verdes, 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 Rancho Palos Verdes, California rental market.
Rancho Palos Verdes, California
Average Apartment Rent
$3,120
Y-o-Y Change in Average
Apartment Rent
2.8%
As of November 2024
Compared to a year ago, Rancho Palos Verdes, California apartments have recorded a 2.8% rent increase.
Rancho Palos Verdes, California Average apartment rent trend
Rancho Palos Verdes, California Average Apartment Rent
Rancho Palos Verdes, California Apartment rent ranges
At 99.72%, apartments priced Over $2,000 represent the bulk of Rancho Palos Verdes, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 0.28%.
Rancho Palos Verdes, California Housing tenure**
Renters take up 20% of Rancho Palos Verdes, California real estate, occupying a total of 3,108 units, while homeowners live in 12,243 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$120,677
Average household size of renter-occupied housing units**
2.98
Rental vacancy rate**
5.8%
Rancho Palos Verdes, California Renter-occupied housing units by no. of bedrooms**
There are 1,214 rentals in Rancho Palos Verdes, California with 2 beds making up the highest share of the market, at 39%. Units with No bedrooms, on the other hand, hold the lowest percentage (4%), amounting to 112 units. Overall, the median number of rooms in Rancho Palos Verdes, California homes for rent is 4.4.
Rancho Palos Verdes, California Renter-occupied units by age of householder**
Most condos for rent in Rancho Palos Verdes, California are occupied by residents in the 35 - 44 years age group (27%), followed by those in the 45 - 54 years age group (26%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Rancho Palos Verdes, California Renter-occupied housing units by family type**
Rancho Palos Verdes, California Renter-occupied housing units by the presence of own children**
A total of 2,368 apartments for rent in Rancho Palos Verdes, California, or 76% of all rentals are family households. Additionally, 48% of rental homes include children under the age of 18 – that’s 1,503 units. All in all, the median size of a renter-occupied household in Rancho Palos Verdes, California is 2.98.
Rancho Palos Verdes, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 75% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Rancho Palos Verdes, California.
Rancho Palos Verdes, California Renter-occupied units by year structure built**
The highest share of Rancho Palos Verdes, California apartment rentals, namely 35% or 1,092 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (34%, 1,055 units), and the ones Built 1950 - 1959 (13%, 403 units).
Rancho Palos Verdes, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Rancho Palos Verdes, California renters (47%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Rancho Palos Verdes, California condos for rent is 2016.
Rancho Palos Verdes, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Rancho Palos Verdes, California renters have 2 vehicles available per household, 29% of them have 1 vehicle available, and 14% have 3 vehicles available.
Rancho Palos Verdes, California Means of transportation to work of householders living in renter-occupied housing units**
Rancho Palos Verdes, 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 Rancho Palos Verdes, 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
