In July 2024, the average rent in Long Beach, CA, is $1,743 monthly1. This is about 14% more than the U.S. average of $1,5351. The city accommodates many housing needs, offering homes that average 527 square feet1.
Rents vary widely. Studios go for about $1,423. One-bedrooms are $1,743. Two-bedrooms cost $2,234, while three-bedrooms are $2,5621. This makes Long Beach an important area in California's housing market. It's wise to look carefully at these costs and Long Beach living expenses before setting a budget.
Key Takeaways
- The average rent in Long Beach, CA is $1,743 per month1.
- Long Beach rental costs are approximately 14% higher than the U.S. national average1.
- The average apartment size for this price is around 527 square feet1.
- Monthly rents range from $1,423 for studios to $2,562 for three-bedroom apartments1.
- It's crucial to consider these living expenses in Long Beach, California, when budgeting for housing1.
Overview of Average Rent in Long Beach, CA
Long Beach, CA, has a wide range of rent prices because it's a city with lots of different housing choices. Places like Long Beach/Ports, Downtown Long Beach, and Bixby Knolls1 are especially popular for renters. It's important for people looking to rent and investors to understand the rent scene here.
Current Average Rent Prices
In Long Beach, the average rent is about $1,743 a month, for places that are usually 527 square feet1. This is quite a bit higher than the average in other parts of the country. The city is in demand as a place to live2. Rent prices can really differ, depending on how big the place is and where it's located.
What you pay changes with the type of place too. Studio apartments, for example, average around $1,423 for 401 square feet1. One-bedroom places are about $1,783. This shows the rental market in Long Beach is growing2. If you need more space, like a two-bedroom, it could be as much as $3,0003.
Year-Over-Year Rent Increase
Last year, rent in Long Beach went up a little, about 1.2% or roughly $22 more a month1. This small increase matches what's happening in California and the whole country2. From January to June 2024, the increase was even bigger at 1.8%. This was a bigger jump than the year before in the same time2.
If you want to live in Long Beach and spend about 30% of your income on rent, you should earn around $69,720 a year1. Keeping track of rent changes is smart for those wanting to rent and for investors. It helps in making decisions about living and investing in Long Beach.
For more details on rent in Long Beach, take a look at this in-depth guide on living costs1.
Rent by Apartment Size in Long Beach
It's important to know how rent varies by apartment size in Long Beach. Where the apartment is, what facilities it offers, and how big it is can change the price.
Studio Apartments
Studio apartments give you about 401 square feet to live in. On average, they cost $1,423 a month4. Prices might change a lot based on the area and what's included. In Long Beach's lively rental scene, finding deals and competitive prices is usual5.
One-Bedroom Apartments
If you're after a one-bedroom place in Long Beach, expect to pay around $1,743 each month1. Depending on where you are in the city, rent can go from $2,006 to $2,8275. This jump in price from studios shows more demand and usually more perks.
Two-Bedroom Apartments
The price for two-bedroom places averages at $2,234 a month4. Rates can vary, showing a span from $2,420 to $2,554, based on your ZIP code5. When choosing, think about how much space you need versus the price. Two-bedrooms are good for small families or sharing with a roommate. Things like having a washer and dryer in the unit or air conditioning can make it pricier.
Three-Bedroom Apartments
Those needing more room or with larger families might look at three-bedroom spots. These average at $2,562 or more every month4. Existing tenants will find rates ranging from $2,288 to $3,135, which varies by ZIP code5. The price hike is due to more people wanting bigger spaces in nice areas.
As apartment sizes increase, so do rent prices. When apartment hunting in Long Beach, consider how much you can spend. Think about the size, where it is, and what it offers. These factors majorly influence how much you'll pay.
Comparison with National Average
Rents in Long Beach are higher than the national average, highlighting differences in the U.S. rental market. The cost to rent in Long Beach is about 14% more. You'll pay more for the same kind of apartment here6. A one-bedroom in Long Beach averages $1,459, while a two-bedroom is $1,8547.
How Long Beach Rents Compare
National median rents are $1,239 for a one-bedroom and $1,396 for a two-bedroom6. In Long Beach, you'll spend about $220 more for a one-bedroom and $458 more for a two-bedroom6. Meanwhile, Long Beach's one-bedroom rent dropped slightly by 0.3% yearly. This is unlike the national increase of 2.6%7.
Implications for Renters
The big difference in rent prices affects those thinking about moving to Long Beach6. With the federal minimum wage at $7.25 per hour, affording rent here is tough. This makes budget planning crucial, especially needing a higher income for a similar life quality. The cost of living in Long Beach is 38.4% above the national average. This fact underlines the need for smart money management for those looking to move6. People should carefully think about housing costs in Long Beach and look into cheaper areas nearby.
For more details on living costs and rent in Long Beach, check out Apartment List7.
Most Affordable Neighborhoods in Long Beach
Long Beach has a big population, nearly 450,000 people, and offers a lot of places to live that fit different budgets8. There are three neighborhoods in Long Beach that are really good for your wallet. They offer affordable rent and a nice lifestyle.
El Dorado
El Dorado is a great spot if you're looking to save money on rent in Long Beach. It's cheaper than other areas but still offers a good quality of life. This neighborhood also has easy access to parks, making it perfect for families or anyone who loves the outdoors.
Wrigley
Wrigley is another area where you can live affordably in Long Beach. You can find apartments like a 465 square foot one for about $1,830 per month8. With its affordable living options and growth, it's a smart move for those saving money.
Lakewood Village
In Lakewood Village, you can enjoy living without spending too much, even though Long Beach overall can be pricey. This neighborhood offers budget-friendly homes that still feel comfortable. It's a good choice if you're looking for an affordable place in Long Beach.
To find out more about affordable places in Long Beach and other housing options, you can check out this real estate website8.
Most Expensive Neighborhoods in Long Beach
Some neighborhoods in Long Beach are known for their high rental prices. They are famous for fancy amenities and great locations. This makes them perfect for people who want a mix of luxury and convenience.
Bixby Hill
Bixby Hill is at the top when it comes to costly areas in Long Beach. It offers a very fancy way of living. One-bedroom places can cost about $3,289 a month, and two-bedrooms can go up to $4,4649. It is a gated area close to schools and cultural spots like Rancho Los Alamitos, making it even more attractive.
Marina Pacifica
Next up is Marina Pacifica, known for luxury by the water. It has amazing rentals that give you beautiful views of the marina. People love it for its fancy docks, gyms, and the lifestyle it offers. It's a top pick for those willing to spend more for special living spaces.
Downtown Long Beach
Downtown Long Beach is another high-end area. It mixes old charm with new luxury. Living here means paying more for your home. But you're right in the middle of the best places to eat, have fun, and shop. It makes the high prices worth it.
For details on rent in these luxury Long Beach areas, visit this link9.
Trends and Changes in the Rental Market in Long Beach
The Long Beach rental market has seen many ups and downs recently10.Rents have gone down by 1.0% from last year. This shows how quickly things can change in this area. Meanwhile, from January to June 2024, there's been a 1.8% rise in rental prices10. This suggests a market that's both stable and changing. These trends are important for both renters and investors to keep an eye on.
Long Beach's rent is growing faster than the California state average right now10. There's an expected 5.5% increase in Long Beach rents by the end of 2024. In contrast, places like Inglewood and Downtown LA see less than a 2.5% increase10. These trends are key for those looking to invest in Long Beach's rental properties.
The Western regions, including Long Beach, have shown rent growth for the first time in over a year11. This growth is slight but matches the trend seen in certain metro areas across the country. This insight into the rental market gives a broader view of regional behaviors11. It shows how these trends affect local stakeholders.
The Long Beach rental market is definitely changing with signs of both stability and growth in 2024. Both renters and investors must keep up with these changes. By doing so, they can make smarter decisions based on Long Beach's current market conditions.
Average Rent in Long Beach Compared to Nearby Cities
Comparing Long Beach's rental prices with nearby cities shows how it stacks up. This is especially true when we look at Southern California's rent costs.
Comparison with Los Angeles
Many people are curious about how rent in Long Beach compares to Los Angeles. Long Beach's median rent is $2,19512, which is quite a bit less than the $2,19913 median rent in Los Angeles' metro. This means Long Beach's rent is 18.9% cheaper than Los Angeles'12. Because LA County has a huge population but doesn't build enough houses, rent prices are a big deal for renters12.
Comparison with Anaheim
The rent in Long Beach versus Anaheim shows Long Beach is more affordable. The average rent in Long Beach's 90805 zip code is $2,00013, offering savings compared to Anaheim. Long Beach also saw slight drops in rent for one and two-bedroom apartments from June to July13. This further proves Long Beach is the more budget-friendly option in Southern California.
Cost of Living in Long Beach, CA
Knowing the Long Beach living costs is key for those thinking of moving there. With housing expenses much higher than the U.S. average, future residents must be ready financially.
Housing Costs
Housing is a big part of cost of living in Long Beach. The average rent for a one-bedroom in the city center is about $2,938.89. If you look outside the center, it’s around $2,650.00. Three-bedroom places in the city center average $4,855.56, and $4,133.33 outside. The cost of living in Long Beach is 50% above the national level. This spike is mostly because housing costs are 140% higher than the U.S average14.
Other Essential Expenses
Apart from housing, California’s other essential expenses also affect Long Beach's living costs. Grocery items cost about 11% more. Healthcare is about 10% higher, and utility bills are roughly 17% more than the national average15. This situation means residents need to plan their budgets carefully, considering all living costs, not just housing.
Conclusion
Long Beach, CA's rental market is ever-changing, offering both choices and challenges. Prices for renting homes have been going up. Since January, there's been a 2.6% increase. Over the past year, rent went up by 7.8%16. Now, renting a one-bedroom costs $1,400 monthly. A two-bedroom is around $2,100 per month16. With these prices, Long Beach is the 11th priciest U.S. city for renters out of the top 10016.
Renting in Long Beach means seeing a lot of different prices in its areas. Take Belmont Shore, where rents for one to three bedrooms range from $2,200 to $4,000 monthly. Eastside is more affordable, with prices between $2,000 and $3,50017. This shows why comparing markets is key to finding a good deal18.
Long Beach merges living costs that fit your budget with easy access to city life. People thinking about renting here should look at all costs. They need to think about their money and what they want in life. This California living guide stresses the need to think over rent prices and different areas. Always get advice from experts. They help match your money goals with the right Long Beach home.
FAQ
What is the current average rent in Long Beach, CA?
As of July 2023, the average rent in Long Beach is $1,743 per month. Apartments typically have around 527 square feet. Compared to the U.S., this is 14% higher than the average of $1,535.
How much has rent increased in Long Beach over the past year?
Over the last year, rent in Long Beach went up by 1.2%. This means an average monthly increase of $22. From January to June 2024, there was a further 1.8% rise.
What are the average rents for different apartment sizes in Long Beach?
Here are the average rents by size: Studio apartments are $1,423 per month. One-bedroom places average $1,743. Two-bedroom apartments are $2,234, and three-bedrooms are $2,562 monthly.
How does the cost of renting in Long Beach compare to the national average?
Renting in Long Beach costs about 14% more than the national average. Nationally, a one-bedroom is $1,239, and a two-bedroom is $1,396. Long Beach prices are higher for these.
Which neighborhoods in Long Beach are the most affordable?
El Dorado, Wrigley, and Lakewood Village are the most affordable areas. For example, Wrigley offers places around 465 square feet for roughly $1,830 per month. These neighborhoods offer prices below Long Beach's average.
What are the most expensive neighborhoods in Long Beach?
The costliest areas include Bixby Hill, Marina Pacifica, and Downtown. In Bixby Hill, a one-bedroom can be $3,289 per month. Two-bedrooms can go up to $4,464. Downtown also has high-priced units.
What renting trends are currently seen in Long Beach?
Currently, rents in Long Beach have dropped by 1.0% from last year. Yet, from January to June 2024, they grew by 1.8%. Long Beach is growing faster than the California average.
How does Long Beach's average rent compare to nearby cities like Los Angeles and Anaheim?
Long Beach's rent is 18.9% cheaper than Los Angeles's $2,199 average. It's also lower than Anaheim, offering renters a cost advantage.
What are the overall costs of living in Long Beach, CA?
Life in Long Beach costs 50% more than the national average. Housing alone is 140% pricier. Essentials like food, healthcare, and utilities are 11%, 10%, and 17% higher, respectively. Budgeting is key for those moving here.
Source Links
- Average Rent in Long Beach, CA - Latest Rent Prices by Neighborhood - https://www.apartments.com/rent-market-trends/long-beach-ca/
- Average Rent in Long Beach, CA & Rent Price Trends - https://www.apartmentlist.com/rent-report/ca/long-beach
- Average Rent in Long Beach, CA | Long Beach, CA Rent Costs - https://www.renthop.com/average-rent-in/long-beach-ca
- Apartments for Rent in Long Beach, CA - 685 Condos & Other Rentals | Zumper - https://www.zumper.com/apartments-for-rent/long-beach-ca
- Payment Standard - https://www.longbeach.gov/haclb/housing-providers/payment-standard/
- Cost of Living Calculator | Cost of Living in Long Beach, California | Salary.com - https://www.salary.com/research/cost-of-living/long-beach-ca
- Cost of Living in Long Beach, CA 2023 - https://www.apartmentlist.com/renter-life/cost-of-living-in-long-beach
- 10 Most Affordable Long Beach, CA Suburbs to Live In - https://www.redfin.com/blog/affordable-long-beach-suburbs/
- Neighborhoods in Long Beach with the most expensive home sales - https://stacker.com/california/long-beach/neighborhoods-long-beach-most-expensive-home-sales
- Rental Trends & Average Rent in Los Angeles, CA | Common - https://www.common.com/blog/2023/02/average-rent-in-los-angeles/
- March 2024 Rental Report: Median Asking Rents Continue To Decline - https://www.realtor.com/research/march-2024-rent/
- Long Beach rent costs will keep growing, new report finds - https://lbbusinessjournal.com/business/news/long-beach-rent-costs-will-keep-growing-new-report-finds/
- Apartments for Rent 90805, Long Beach, CA - https://www.rentable.co/long-beach-ca/zip-codes/90805
- Cost of Living in Long Beach, CA | Flyhomes - https://flyhomes.com/cost-of-living/long-beach--ca
- Los Angeles-Long Beach, CA Cost Of Living Calculator | Forbes Advisor - https://www.forbes.com/advisor/mortgages/real-estate/cost-of-living-calculator/los-angeles-long-beach-ca/
- Long Beach property managers dispute rent report - https://www.presstelegram.com/business/20170402/long-beach-property-managers-dispute-rent-report/
- Exploring Long Beach, Huntington Beach, and Lakewood's Top Rental Neighborhoods - https://crestwavepropertymanagement.com/exploring-long-beach-huntington-beach-and-lakewoods-top-rental-neighborhoods/
- Reducing Vacancy Rates: Strategies for Long Beach Owners - CMC Realty & Property Management - https://www.cmc-realty.com/reducing-vacancy-rates-strategies-for-long-beach-owners/
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