Houses for Rent in Long Beach, CA - 87 Rental Homes | Zumper (2024)

FAQs

Why is it so hard to find a place to rent in California? ›

"A lot of that has to do with housing supply," UC Irvine professor Ed Coulson said. "The amount of new construction for apartments in Southern California — California in general — is pretty low. It's a state that puts a lot of barriers between vacant ground a new supply coming on to the market."

Higher interest rates mean significantly larger monthly mortgage payments for landlords, a financial pressure that often finds its way to tenants in the form of higher rents. Property owners, facing tighter margins, have little choice but to adjust rental prices upwards to maintain their investments' viability.

When it comes to answering that question, there's no universal answer other than, “1 or more”. If you haven't purchased your first rental property yet, start at 1. Regardless of your investment experience, the best answer for you is going to come down to your goals.

Declining rents in major California cities

Oakland and Sacramento saw the most significant drops, with rental rates falling by 9.1 percent and 8.1 percent, respectively. Other cities such as Los Angeles, San Jose, San Francisco, San Diego and Long Beach also saw declines, albeit to a lesser extent.

(NerdWallet) – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn't expect prices to drop dramatically from their pandemic-padded highs. That means affordability will remain the dominant narrative in rental housing in 2024.

Rent increases for properties subject to the Rent Stabilization Ordinance are prohibited through January 31, 2024, with a 4% increase approved from February 1, 2024, to June 30, 2024.

' Housing affordability challenges are currently persisting amid supply shortages and high demand. Experts suggest there may be some moderation in price growth, but it is unlikely that we will see broad declines in the California real estate market.

The 50 Percent Rule is a shortcut that real estate investors can use to quickly predict the total operating expenses that a rental property investment is likely to generate. To work out a property's monthly operating expenses using the 50 rule, you simply multiply the property 's gross rent income by 50%.

The 1% rule of real estate investing measures the price of an investment property against the gross income it can generate. For a potential investment to pass the 1% rule, its monthly rent must equal at least 1% of the purchase price.

What is the rule of 72 in rental property? ›

What Is the Rule of 72? The Rule of 72 is an easy way to calculate how long an investment will take to double in value given a fixed annual rate of interest. Dividing 72 by the annual rate of return gives investors an estimate of how many years it will take for the initial investment to duplicate.

High construction costs further exacerbate the housing shortage. Land in California is expensive, particularly in desirable urban areas. Labor costs are also high due to the state's prevailing wage laws and labor shortages in the construction industry.

Buzz: Silicon Valley ranks as the hardest spot to find an apartment in California, with western Los Angeles County scoring as the easiest.

Census Pulse Data

According to the most recent Pulse data, 15 percent of adult Californian renters, representing over 1.8 million people are not caught up on rent. This is likely an underestimate, as many respondents may not be aware that their household has fallen behind on rent.