The average rental price for an apartment over the prior 6 months in Long Beach, CA has increased by 3.7 percent. As of October 2020, the average rent for an apartment in Long Beach, CA is $1670 which is a 2% increase compared to the previous year when the average rent was $1703.
The average size for a Long Beach, CA apartment is 800 square feet. The median rent for a One-bedroom apartment in Long Beach is $1700 which is decreased by 2% and the average rent for a two-bedroom apartment decreased by 1% to $2175.
Long Beach, CA Occupied Housing Units
It is found that 62% of the households in Long Beach are renter-occupied while 38% are owner-occupied.
There is also an increase in the rental units in Long Beach, CA. As per the data, 30% of the apartment units come with a rental price of more than $2000, 52% of the units range between $1,501-$2,000 average rent, 17% of the units rent on average range between $1,001-$1,500, and the rest 2% of the apartment rentals price between $700-$1,000.
There are a total of 1100 apartment units for rent available in Long Beach, CA. One-Bedroom apartment units are the most common, with a total of 540 listings available in Long Beach. There is a lot of options in houses and apartments units from affordable to luxury available for rent in Long Beach, CA.
In case you want to deal with buying, renting, or managing your property in Long Beach, RTI Properties Inc., the best property management company in Long Beach CA, will share its 20+ years of experience serving clients in Long Beach with you and will ensure that you achieve the highest level of return on your rental investment. Our professionals are here to provide the Long Beach Property Management services with professional knowledge of market analysis, risk and liability assessment, and market rent survey to help you maximize your returns and minimize your stress.
Long Beach Average Rent By Neighborhood
The most popular Long Beach neighborhoods to rent apartments in are Downtown Long Beach where 285 listings available.
The most affordable neighborhoods in Long Beach, CA are Paramount and South, Deforest Park where the average rent goes for $1045 and $1255 per month respectively. On the other side, the most expensive Long Beach neighborhoods are Bixby Hill, Belmont Park where the average rent goes for more than $2400 per month.
How Is The Long Beach Real Estate Market Trends in 2020?
- The average home value in Long Beach, CA is $595K.
- 42% of household units are apartment complexes and 38% of types are single-family-homes.
- In October 2020, Long Beach, CA is a seller’s market, means that there are more buyers than sellers.
Long Beach, CA Home Values Trends (As on October 2018)
Housing trends in Long Beach show a 4.0% increase in median home sales price over the past year. The forecast is that it will further rise to 5.1 % next year. The median Homes Sales Price is $589,000, and the rate is $ 458 per square foot. The median price of homes in Long Beach is $605,000 for homes currently listed, and the median rent of sold is $550,500. In Long Beach, 0.6 homes for every 10.000 are under foreclosure, less than the national value of 1.2. Foreclosures are likely to remain a factor in changing home prices in the coming years. At present, there are 1152 homes under enlistment which include 293 condos $ 4 foreclosures.
Foreclosed Homeowners Underwater in Long Beach, CA:
2008’s Bubble impact lowered home values nationwide by 20% from their peak in 2007 to trough in 2011. In Long Beach, 0.6% are delinquent mortgages which are less than the national average of 1.1%. Many homeowners failed to return their mortgage loans to financial companies. Many homeowners (5.1%) are in trouble since they owe to financial institutions more than the present value of their homes.
Rental Market Trends in Long Beach, CA (As on October 2018)
In Long Beach, Rental trends indicate an increase in median rent by 6% from last year. The median home rent per month is $2,200.The average rent for an apartment ( 795 sq. ft. average apartment size) is $1,875 per month, 1% more as compared to the previous year when the average rent was $1,848.The average rent of Studio (484 sq. ft. average apartment size) is $1,285, one bedroom( 698 sq. ft. average apartment size) rents at an average $1,745 a month, 2- bedroom ( 970 sq. ft. average apartment size)at an average rent of $2,163 a month & 3-bedroom (1200 sq. ft. average apartment size) at an average rent of $ 2,596. The figures in Long Beach apartment rents are :