Fresno

Central Valley continues to see rising rent prices – Fresno, California

Fresno, California 2021-06-02 22:10:51 –

Fresno, CA (KFSN) –Fresno’s monthly rents have skyrocketed over the past year.

Fresno remains one of the hottest rental markets in the country.

Vacancy apartments have attracted people who want to move in quickly, but prices are much higher than before.

“I was surprised,” said Melissa Mills of Fresno. “In addition to raising rents, there are many places that haven’t been refurbished.”

Rents may be rising, but Fresno remains one of California’s affordable shelters, said Chris Salviati, a housing economist at the online service ApartmentList.com.

“Currently, Fresno’s rents are up 17% year-on-year, the third fastest rent growth rate in the United States,” said Salviati.

The three cities with the highest year-over-year rent growth were led by Boise, Idaho, with rents rising 31%. Second place was Spokane, Washington with 22% and Fresno with 17%.

Fresno’s one-bedroom apartments had a median value of $ 1048 and two-bedroom apartments were $ 1304.

But now more units can be borrowed for more than $ 2,000 a month.

Melissa Mills, a single mother, explained that her salary couldn’t keep up with rising rents.

She said, “I need three times my income. Well, if you ask for $ 2,100 a month, there aren’t many jobs that make more than $ 6,000 a month,” she said.

With some of Fresno’s latest apartments completed this summer and fall, additional inventories are expected to help alleviate housing shortages for some renters.

“Fresno is still one of the more affordable markets, despite the fact that rents are rising very rapidly right now. If you’re from the Bay Area, LA, or San Diego, Fresno Rents still look like this: It’s really good value. “

However, people who have lived in the valley for many years continue to be shocked by soaring rents.

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