Santa Cruz, 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 Santa Cruz, California rental market.
Santa Cruz, California
Average Apartment Rent
$3,551
Y-o-Y Change in Average
Apartment Rent
5.4%
As of November 2024
Compared to a year ago, Santa Cruz, California apartments have recorded a 5.4% rent increase.
Santa Cruz, California Average apartment rent trend
Santa Cruz, California Average Apartment Rent
Santa Cruz, California Apartment rent ranges
At 96.67%, apartments priced Over $2,000 represent the bulk of Santa Cruz, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 3.33%.
Santa Cruz, California Housing tenure**
Renters take up 53% of Santa Cruz, California real estate, occupying a total of 11,437 units, while homeowners live in 10,157 properties.
Median number of rooms of renter-occupied housing units**
3.6
Renter median household income**
$67,977
Average household size of renter-occupied housing units**
2.25
Rental vacancy rate**
2.2%
Santa Cruz, California Renter-occupied housing units by no. of bedrooms**
There are 3,683 rentals in Santa Cruz, California with 2 beds making up the highest share of the market, at 32%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 281 units. Overall, the median number of rooms in Santa Cruz, California homes for rent is 3.6.
Santa Cruz, California Renter-occupied units by age of householder**
Most condos for rent in Santa Cruz, California are occupied by residents in the 15 - 24 years age group (29%), followed by those in the 25 - 34 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Santa Cruz, California Renter-occupied housing units by family type**
Santa Cruz, California Renter-occupied housing units by the presence of own children**
A total of 3,627 apartments for rent in Santa Cruz, California, or 32% of all rentals are family households. Additionally, 18% of rental homes include children under the age of 18 – that’s 2,057 units. All in all, the median size of a renter-occupied household in Santa Cruz, California is 2.25.
Santa Cruz, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 50% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Santa Cruz, California.
Santa Cruz, California Renter-occupied units by year structure built**
The highest share of Santa Cruz, California apartment rentals, namely 21% or 2,387 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (13%, 1,473 units), and the ones Built 1939 or earlier (13%, 1,462 units).
Santa Cruz, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Santa Cruz, California renters (38%) moved in 2018 to 2020, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Santa Cruz, California condos for rent is 2018.
Santa Cruz, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 39% of Santa Cruz, California renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 13% have No vehicle available.
Santa Cruz, California Means of transportation to work of householders living in renter-occupied housing units**
Santa Cruz, 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 Santa Cruz, 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
