Rancho Santa Margarita, 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 Santa Margarita, California rental market.
Rancho Santa Margarita, California
Average Apartment Rent
$2,769
Y-o-Y Change in Average
Apartment Rent
3.6%
As of November 2024
Compared to a year ago, Rancho Santa Margarita, California apartments have recorded a 3.6% rent increase.
Rancho Santa Margarita, California Average apartment rent trend
Rancho Santa Margarita, California Average Apartment Rent
Rancho Santa Margarita, California Housing tenure**
Renters take up 27% of Rancho Santa Margarita, California real estate, occupying a total of 4,558 units, while homeowners live in 12,240 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$93,095
Average household size of renter-occupied housing units**
2.62
Rental vacancy rate**
2.9%
Rancho Santa Margarita, California Renter-occupied housing units by no. of bedrooms**
There are 1,742 rentals in Rancho Santa Margarita, California with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 47 units. Overall, the median number of rooms in Rancho Santa Margarita, California homes for rent is 3.8.
Rancho Santa Margarita, California Renter-occupied units by age of householder**
Most condos for rent in Rancho Santa Margarita, California are occupied by residents in the 45 - 54 years age group (22%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Rancho Santa Margarita, California Renter-occupied housing units by family type**
Rancho Santa Margarita, California Renter-occupied housing units by the presence of own children**
A total of 2,830 apartments for rent in Rancho Santa Margarita, California, or 62% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 1,629 units. All in all, the median size of a renter-occupied household in Rancho Santa Margarita, California is 2.62.
Rancho Santa Margarita, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 40% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Rancho Santa Margarita, California.
Rancho Santa Margarita, California Renter-occupied units by year structure built**
The highest share of Rancho Santa Margarita, California apartment rentals, namely 46% or 2,106 units, were Built 1990 - 1999, followed by those Built 1980 - 1989 (34%, 1,539 units), and the ones Built 2000 - 2009 (10%, 474 units).
Rancho Santa Margarita, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Rancho Santa Margarita, California renters (43%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Rancho Santa Margarita, California condos for rent is 2017.
Rancho Santa Margarita, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 37% of Rancho Santa Margarita, California renters have 1 vehicle available per household, 34% of them have 2 vehicles available, and 13% have No vehicle available.
Rancho Santa Margarita, California Means of transportation to work of householders living in renter-occupied housing units**
Rancho Santa Margarita, 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 Santa Margarita, 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
