Department of Numbers

Riverside California Residential Rent and Rental Statistics

The median monthly gross residential rent in Riverside, CA (the Riverside-San Bernardino-Ontario metro area) was $1,166 in 2015 according to the Census ACS survey.1 Average gross rent in Riverside was $1,200 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Riverside median and average rent data will be released in September of 2017.

Data is also available below for Riverside rental vacancy rates, Riverside rent as a percent of median income and the fraction of renters in Riverside.

Show dollars as: Nominal Real

Real Gross Rent in Riverside California (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
California Median Gross Rent $1,311 +3.88% +8.98%
Riverside, CA Median Gross Rent $1,166 +1.13% +6.29%

Riverside, CA Real Gross Rent Trends

Median gross rent for Riverside peaked in real terms in 2008 at $1,235 and is now $69 (5.59%) lower. Average gross rent for Riverside peaked in real terms in 2008 at $1,275 and is now $75 (5.88%) lower.

Real Gross Rent in Riverside: Riverside CA Median, Riverside CA Average, California Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Riverside

Date US
Median
California
Median
Riverside, CA
Median
Riverside, CA
Average
2015 $959 $1,311 $1,166 $1,200
2014 $930 $1,262 $1,153 $1,178
2013 $898 $1,215 $1,117 $1,145
2012 $886 $1,203 $1,097 $1,132
2011 $887 $1,195 $1,096 $1,144
2010 $901 $1,225 $1,136 $1,185
2009 $905 $1,241 $1,165 $1,188
2008 $920 $1,267 $1,235 $1,275
2007 $874 $1,194 $1,158 $1,188
2006 $883 $1,191 $1,141 $1,176
2005 $858 $1,147 $1,075 $1,097

Riverside Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Riverside California was 5.03% according to Census ACS data.

Rental Vacancy Rate in Riverside California

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
California 3.33% -0.57% -1.18%
Riverside, CA 5.03% -1.32% -1.39%

Trends in Riverside, CA Rental Vacancy Rate

The rental vacancy rate in Riverside peaked in 2010 at 8.82%. Since then it has fallen by 3.79% to 5.03%. Data records for this series originated in 2005.

Rental Vacancy Rate: Riverside CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for Riverside

Date US California Riverside, CA
2015 5.85% 3.33% 5.03%
2014 6.32% 3.90% 6.35%
2013 6.49% 4.22% 6.54%
2012 6.77% 4.51% 6.42%
2011 7.40% 4.94% 6.85%
2010 8.17% 5.86% 8.82%
2009 8.43% 5.76% 8.14%
2008 7.86% 4.71% 7.08%
2007 7.87% 4.72% 6.80%
2006 7.70% 4.67% 5.49%
2005 7.74% 4.61% 4.69%

Rent as a Fraction of Income

Using median household income data for Riverside, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Riverside, median monthly gross rent as a fraction of median household income was 24.95% in 2015 according to the ACS.

Riverside California Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
California 24.39% -0.18% -0.30%
Riverside, CA 24.95% -0.53% -0.45%

Trends in Riverside, CA Rent as a Fraction of Income

The fraction of median Riverside household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 25.48%. Since then it has fallen by 0.53% to 24.95%.

Fraction of Income towards Rent: Riverside CA, California, US

Percent of median household income going towards median monthly gross rent in Riverside California

Historical Data for Annual Rent as a Fraction of Income in Riverside California

Date US California Riverside, CA
2015 20.63% 24.39% 24.95%
2014 20.89% 24.57% 25.48%
2013 20.78% 24.40% 25.37%
2012 20.65% 24.69% 25.40%
2011 20.70% 24.59% 24.81%
2010 20.50% 24.18% 24.16%
2009 20.12% 23.52% 24.17%
2008 19.00% 22.32% 23.50%
2007 18.66% 21.58% 21.91%
2006 18.90% 21.80% 22.22%
2005 18.89% 21.77% 21.56%

Renter Fraction in Riverside California

You can calculate the renter fraction in Riverside in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Riverside as a fraction of total Riverside households. In 2015 39.18% of households were renters according to Census ACS data.

Riverside Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
California 46.41% +0.14% +0.44%
Riverside, CA 39.18% +0.07% +1.56%

Trends in the Riverside, CA Renter Fraction

At 39.18%, the 2015 household based renter fraction in Riverside was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Riverside CA, California, US

Fraction of renters in Riverside

History of Riverside Renter Fraction

Date US California Riverside, CA
2015 36.97% 46.41% 39.18%
2014 36.90% 46.27% 39.11%
2013 36.50% 46.21% 38.06%
2012 36.09% 45.97% 37.62%
2011 35.42% 45.12% 35.69%
2010 34.65% 44.36% 34.33%
2009 34.13% 43.43% 34.14%
2008 33.36% 42.95% 34.56%
2007 32.80% 42.00% 32.45%
2006 32.73% 41.55% 32.19%
2005 33.10% 41.56% 32.51%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.