Rent cost on average are up across the board in Fresno

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Over the past year the rise in apartment rent in Fresno has outpaced the state average. (KFSN)

Over the past year the rise in apartment rent in Fresno has outpaced the state average. The cost is keeping young people like Anna Maria Lucatero from moving into an apartment.

"Yeah, I feel like as the rent goes higher (and) it makes you not want to move out of your parents' home."

According to Apartmentlist.com the average monthly rent for a one bedroom apartment in Fresno is $810, $1,010 For a two-bedroom apartment-- those prices represent a 6.1-percent spike from a year ago.

"The economy has improved, which means more people are working and that means more people that had been living with their parents are now moving out on their own," said Greg Terzakis, CA Apartment Association.

Terzakis said many baby boomers tired of maintaining a home are selling their houses and many millennial's do not want to pay a monthly mortgage just yet.

"People that might have otherwise graduated college and had a hard time finding a job are finding jobs more readily. And also the fact that we have not been building enough housing-- both residential and multi-family-- so we've created an issue with supply which has driven up demand which has driven up cost."

Apartment rents are going up statewide-- in San Francisco a two-bedroom apartment goes for $3,060. In Los Angeles the average price is $1,730 and in Sacramento a two bedroom apartment costs $1,180 a month.

Fresno units may rent for less but Lucatero is not quite ready to leave home.

"I think to alleviate the cost a little bit less; I would probably get several roommates-- probably like two or three."

Related Topics:
homerental propertyfresnomoneyFresno
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