Price of housing: Condo rents rise in SLO, information present

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The price of hire for an house in San Luis Obispo has elevated considerably in comparison with this time final 12 months, in response to latest information from hire.com.

The report, which compiles listings from residences.com and hire.com, paints an image of hundreds of rents on the rise.



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The typical price of a studio house is as much as $2,024 a month, a rise of 18% from this time final 12 months.

One-bedroom residences elevated in month-to-month common hire much more. Hire.com’s information discovered the typical hire in 2022 was $3,123 a month, a 51% improve over final 12 months.

Two-bedroom residences, which now common $3,479 a month, additionally noticed a 25% improve from final 12 months’s charges. The report additionally provided evaluation of essentially the most inexpensive areas within the metropolis.

“Essentially the most inexpensive neighborhoods in San Luis Obispo are Highland, the place the typical 1-bedroom house hire goes for $1,800, Mill Avenue Historic District, the place renters pay $1,935 on common for a one-bedroom house, and Downtown SLO, the place the typical one-bedroom house hire goes for $2,500,” the report mentioned.

The report additionally broke down the vary of accessible house pricing, discovering no obtainable items for hire within the $501-$700 or $701-$1000 ranges.

In the meantime, residences within the $1,001-$1,500 vary made up simply 8% of the obtainable market, whereas residences within the $1,501-$2,100 vary made up 37% of the market.

Nevertheless, it was residences within the prime worth bracket — $2,101 or larger — that made up essentially the most vital share of the market, occupying extra of half of all obtainable housing at 55%.

Not all neighborhoods in SLO skilled the identical stage of progress in comparison with the typical, although.

Downtown SLO skilled no actual change in hire price in any measurement of residence, whereas Broad Avenue skilled a few of the most important modifications of any neighborhood.

Broad Avenue additionally was the neighborhood most in keeping with town’s common, seeing will increase of 26%, 47% and 25% within the studio, one-bedroom and two-bedroom house classes, respectively. This aligned intently with the citywide tendencies in these classes.

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John Lynch is a housing reporter on the San Luis Obispo Tribune. Initially from Kenosha, Wisconsin, John studied journalism and telecommunications at Ball State College, graduating in 2022.

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