San Luis Obispo, 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 San Luis Obispo, California rental market.
San Luis Obispo, California
Average Apartment Rent
$2,949
Y-o-Y Change in Average
Apartment Rent
5.4%
As of November 2024
Compared to a year ago, San Luis Obispo, California apartments have recorded a 5.4% rent increase.
San Luis Obispo, California Average apartment rent trend
San Luis Obispo, California Average Apartment Rent
San Luis Obispo, California Apartment rent ranges
At 70.2%, apartments priced Over $2,000 represent the bulk of San Luis Obispo, California rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 1.39%.
San Luis Obispo, California Housing tenure**
Renters take up 62% of San Luis Obispo, California real estate, occupying a total of 11,934 units, while homeowners live in 7,320 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$43,781
Average household size of renter-occupied housing units**
2.42
Rental vacancy rate**
2.7%
San Luis Obispo, California Renter-occupied housing units by no. of bedrooms**
There are 4,400 rentals in San Luis Obispo, California with 2 beds making up the highest share of the market, at 37%. Units with 5 or more beds, on the other hand, hold the lowest percentage (4%), amounting to 421 units. Overall, the median number of rooms in San Luis Obispo, California homes for rent is 4.
San Luis Obispo, California Renter-occupied units by age of householder**
Most condos for rent in San Luis Obispo, California are occupied by residents in the 15 - 24 years age group (45%), followed by those in the 25 - 34 years age group (21%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 2%.
San Luis Obispo, California Renter-occupied housing units by family type**
San Luis Obispo, California Renter-occupied housing units by the presence of own children**
A total of 2,817 apartments for rent in San Luis Obispo, California, or 24% of all rentals are family households. Additionally, 9% of rental homes include children under the age of 18 – that’s 1,029 units. All in all, the median size of a renter-occupied household in San Luis Obispo, California is 2.42.
San Luis Obispo, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 34% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in San Luis Obispo, California.
San Luis Obispo, California Renter-occupied units by year structure built**
The highest share of San Luis Obispo, California apartment rentals, namely 27% or 3,211 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (14%, 1,727 units), and the ones Built 1990 - 1999 (11%, 1,370 units).
San Luis Obispo, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most San Luis Obispo, California renters (42%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their San Luis Obispo, California condos for rent is 2019.
San Luis Obispo, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 36% of San Luis Obispo, California renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 16% have 3 vehicles available.
San Luis Obispo, California Means of transportation to work of householders living in renter-occupied housing units**
San Luis Obispo, California Geographical mobility in the past year for householders living in renter-occupied housing units**
San Luis Obispo, California Average apartment rent by zip codes
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 San Luis Obispo, 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