The Long Beach rental market is characterized by high demand and tight supply. With an estimated population of over 462,000 people, the demand for rental units far exceeds the available supply. The average rent for a one-bedroom apartment in Long Beach is $1,938, which is significantly higher than the national average of $1,056. This can be attributed to the city’s popularity as a desirable place to live due to its close proximity to Los Angeles, great weather, and a variety of outdoor activities. Rental prices are also influenced by the low vacancy rate in the region, which is currently at an all-time low of 1.7%.
In Long Beach, the most in-demand rental units are single-family homes. These tend to be more expensive than apartments, with an average rent of $2,452. Townhouses are also popular, with an average rent of $2,077. There are also a number of affordable apartments available, with the average rent for a studio apartment coming in at $1,541. For those looking for more luxury, there are a number of high-end apartments and condos available, with average rents ranging from $2,120 to $2,866.