All about renters in California.
The Lawhead Team would like to share the latest One Cool Thing about renters in California. This information is useful if you are looking to buy a rental property or upgrade and rent your current home out.
Renter Snapshot:
- 50% of renters are millennials
- 42% are single
- 36% that rent are median age
- $40k is the median income of renters
- 1/3 of renters split the rent
The demographics of renters in California are broken down as follows:
- 44% of renters in California are Hispanic/Latino
- 31% of renters in California are Caucasian
- 11% of renters are Asian
- 10% of renters are African American
Home Snapshot – The median number of years a renter has been renting their current home is 3 years. The median number of years renting total is 9 years. Median bedrooms for rentals in California are 2. The median square footage of a rental property in California is 997 square feet.
74% of rental homes are built in 1994 or earlier. 48% of rentals are apartments.
- 40% of rentals are in the suburbs
- 31% of rentals are outside of downtown but still in the city
- 15% of rentals are downtown in the city
- 13% of rentals are rural
- 1% are other
The following are rentals based on certain areas of the state:
- 2% of rentals are in the far north area of CA.
- 14% of rentals are in the Bay Area
- 20% of renters rent in Central Valley
- 5% rent in the Central Coast
- 59% of rental properties are in Southern California.
