If you’re a member of Generation X and want to spend a year living and working in California, start saving money now if you are not making at least the median salary. Otherwise, the cost of rent could cause a bit of sticker shock.
Recently, GOBankingRates conducted a study of the average rental cost across major U.S. cities. Data revealed that California does not have a city in the cheapest 40 cities for rent. Among the 16 California cities in this list, just five have an average monthly rent under $2,000. But the median salaries in these cities generally make rent affordable.
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From most to least expensive overall average monthly rent, this is the typical cost of rent across 16 California cities.
1. Irvine
- Average monthly rent: $2,986
- 1 bedroom average rent: $2,534
- 2 bedroom average rent: $3,106
- Total cost of living (monthly): $5,090
- Median household income: $122,948
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2. San Jose
- Average monthly rent: $2,679
- 1 bedroom average rent: $2,331
- 2 bedroom average rent: $2,766
- Total cost of living (monthly): $5,117
- Median household income: $136,010
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3. Fremont
- Average monthly rent: $2,626
- 1 bedroom average rent: $2,183
- 2 bedroom average rent: $2,645
- Total cost of living (monthly): $4,955
- Median household income: $169,023
4. San Francisco
- Average monthly rent: $2,620
- 1 bedroom average rent: $2,645
- 2 bedroom average rent: $3,135
- Total cost-of-living (monthly): $5,157
- Median household income: $136,689
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5. Santa Clarita
- Average monthly rent: $2,470
- 1 bedroom average rent: $2,007
- 2 bedroom average rent: $2,442
- Total cost of living (monthly): $4,637
- Median household income: $116,186
6. Chula Vista
- Average monthly rent: $2,360
- 1 bedroom average rent: $1,734
- 2 bedroom average rent: $2,269
- Total cost of living (monthly): $4,567
- Median household income: $101,984
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7. San Diego
- Average monthly rent: $2,274
- 1 bedroom average rent: $1,938
- 2 bedroom average rent: $2,429
- Total cost of living (monthly): $4,445
- Median household income: $98,657
8. Anaheim
- Average monthly rent: $2,271
- 1 bedroom average rent: $1,948
- 2 bedroom average rent: $2,404
- Total cost of living (monthly): $4,397
- Median household income: $88,538
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9. Santa Ana
- Average monthly rent: $2,215
- 1 bedroom average rent: $1,942
- 2 bedroom average rent: $2,290
- Total cost of living (monthly): $4,309
- Median household income: $84,210
10. Los Angeles
- Average monthly rent: $2,067
- 1 bedroom average rent: $1,849
- 2 bedroom average rent: $2,357
- Total cost of living (monthly): $4,426
- Median household income: $76,244
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11. Oakland
- Average monthly rent: $2,021
- 1 bedroom average rent: $1,850
- 2 bedroom average rent: $2,220
- Total cost of living (monthly): $4,324
- Median household income: $94,389
12. Moreno Valley
- Average monthly rent: $1,897
- 1 bedroom average rent: $1,568
- 2 bedroom average rent: $1,784
- Total cost of living (monthly): $4,187
- Median household income: $82,637
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13. Riverside
- Average monthly rent: $1,783
- 1 bedroom average rent: $1,478
- 2 bedroom average rent: $1,776
- Total cost of living (monthly): $4,029
- Median household income: $83,448
14. Long Beach
- Average monthly rent: $1,737
- 1 bedroom average rent: $1,552
- 2 bedroom average rent: $1,901
- Total cost of living (monthly): $4,039
- Median household income: $78,995
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15. Sacramento
- Average monthly rent: $1,643
- 1 bedroom average rent: $1,347
- 2 bedroom average rent: $1,702
- Total cost of living (monthly): $3,830
- Median household income: $78,954
16. Fresno
- Average monthly rent: $1,326
- 1 bedroom average rent: $1,050
- 2 bedroom average rent: $1,295
- Total cost of living (monthly): $3,359
- Median household income: $63,001
Methodology: For this study, GOBankingRates analyzed the average rental cost and cost of living in major U.S. cities. First, GOBankingRates found the 100 most populated cities, according to the U.S. Census American Community Survey. For each city, a number of factors were found, including total population, total households, population ages 65 and over, household median income, all sourced from the U.S. Census American Community Survey; the cost-of-living indexes as sourced from Sperling’s BestPlaces; the average rental cost, one-bedroom rental cost, and two-bedroom rental cost, all sourced from ApartmentList; the average cost of a condo or coop as sourced from Zillow Home Value Index; and the livability index as sourced from AreaVibes. The cost-of-living indexes and the national average expenditure costs for all residents were sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/coop value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate, the average mortgage was calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city was calculated. All data was collected on and is up to date as of Sept. 13, 2024.
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This article originally appeared on GOBankingRates.com: Here’s What Gen X Should Expect To Pay for Rent in 16 California Cities
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