Rent in Fresno significantly increases over the last year

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Since 2017 rent in Fresno has increased, according to (KFSN)

Since 2017 rent in Fresno has increased, according to

Chris Salviati, a housing economist with Apartment List, said over the last month it's been steady.

"Fresno is one of the few remaining affordable cities in California," he said.

However, over the last year rent is up 5.7%.

"5.7% in Fresno is pretty fast paced and a rapid increase," Salviati mentioned.

Salviati said one factor that drives rents up is economic growth.

"Fresno was an area that was pretty hard hit in the recession," he said "It's taken a while to recover and has recovered. In the past year, it's had strong economic growth that's what sort of drives these rent increases".

Salviati explained while one year of extreme growth is okay, it can become a problem if it persists. The median rent for a one bedroom is about $810 and for a two bedroom, it's $1,010.
"The national average is $1,160. Rents in Fresno are a bit lower than the national average," he said.

While it's hard to forecast if rent will continue to rise, Salviati expects rent growth because Fresno is growing.

"When you look at California as a whole I think the entire state has a severe shortage of housing," Salviati said.

Salviati explained Apartment List puts out reports about rent and this could be used as a resource to determine if a renter is paying too much.

Renters can also use Apartment List to find apartments.

For the full report or to find an apartment click here.

Related Topics:
homerentersrental propertyfresnoFresno
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