Rental vacancies advance; rents fall back. Surprised? | firsttuesday Journal

As of October 2023, rents in California's major cities are still too high for the standard of living, with rents often exceeding 50% of gross income. Rentals in Bakersfield are the only major region with a positive change, while the U.S. average for a one bedroom is up 0.5% from the year before. With an increase in vacancies, people are taking advantage of the opportunity to move into larger units with others to reduce costs.