California’s Rental Crisis: 10 Cities Struggle with Unaffordable Rent Prices
According to KTLA, California is known for its high rent prices, and new data from USA Today Homefront shows that the state is home to the majority of the worst cities for renters in the United States. The study found that 10 of the 15 worst cities for renters are in California, with Menifee finishing dead last on the list. The city’s median rent price is $2,682, while the median income is just $42,338, leaving almost 79% of renters rent-burdened.
California’s High Rent Prices a Struggle for Many
California is feeling the squeeze of rising rent prices and high inflation. The state’s rent prices are increasing much faster than the overall cost of living. This means that many people struggle to pay their rent, and are considered “rent-burdened” if they spend more than 30% of their income on rent.
A Bright Spot in California’s Rental Market
While Menifee is struggling with high rent prices, one city in California ranks in the top ten for best cities for renters. Santa Clara finished tenth on the list, with researchers finding that while some cities are not always cheaper than the larger cities they surround, higher overall incomes mean fewer rent-burdened residents. The city’s median rent price is $3,123, while the median income is $136,060.
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California’s Rental Crisis: Where Rent Prices Soar and Residents Suffer (PHOTO: GOOGLE)
Cheaper Options Exist Outside of California
California’s cities are having trouble with high rent prices. But some cities in the Midwest, Texas, and on the East Coast are doing better. These cities have lower crime rates and good schools. For example, Cary, North Carolina has a lower rent price of $1,719 and a higher income of $73,872. Overland Park, Kansas has a lower rent price of $1,572 and a higher revenue of $64,561. These cities are a good places for people to live and rent an apartment without struggling to pay the rent.
Menifee Still Experiencing Growth Despite Rent Challenges
Despite its struggles with high rent prices, Menifee is still experiencing growth and development. The city has a homeowner-occupied rate of over 75%, and its median income in 2023 was $87,440. The city is also seeing a shift towards more multi-family development, with 78% of new residential building permits being single-family homes and 22% being multi-family units.
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