In the US on average, rent prices for one- and two-bedrooms increased by 1.2% over the past month — the first time monthly growth rates have exceeded 1% in the past 20 months, Zumper reported.
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On an annual basis, the national average rent for a one-bedroom remained flat, while two-bedrooms increased by 0.5%, the report found. However, many major cities in California are bucking this trend and have actually seen rent prices fall due to shrinking demand.
Here’s a look at the major cities in California where rent prices have decreased over the past year.
1. Oakland, California
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2. Sacramento, California
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3. Los Angeles
4. San Jose, California
5. San Francisco
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6. San Diego
7. Long Beach, California
All data is sourced from Zumper and is accurate as of May 28, 2024.
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This article originally appeared on GOBankingRates.com: 7 California Cities Where Rent Prices Are Plummeting
