Department of Numbers

San Luis Obispo California Residential Rent and Rental Statistics

The median monthly gross residential rent in San Luis Obispo, CA (the San Luis Obispo-Paso Robles metro area) was $1,254 in 2015 according to the Census ACS survey.1 Average gross rent in San Luis Obispo was $1,343 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 San Luis Obispo median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in San Luis Obispo 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%
San Luis Obispo, CA Median Gross Rent $1,254 +3.38% +5.73%

San Luis Obispo, CA Real Gross Rent Trends

At $1,254, real median gross rent in San Luis Obispo was at its highest level in 2015 since the series began in 2005. At $1,343, real average gross rent in San Luis Obispo was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in San Luis Obispo: San Luis Obispo CA Median, San Luis Obispo CA Average, California Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for San Luis Obispo

Date US
Median
California
Median
San Luis Obispo, CA
Median
San Luis Obispo, CA
Average
2015 $959 $1,311 $1,254 $1,343
2014 $930 $1,262 $1,213 $1,247
2013 $898 $1,215 $1,194 $1,199
2012 $886 $1,203 $1,186 $1,216
2011 $887 $1,195 $1,228 $1,198
2010 $901 $1,225 $1,198 $1,305
2009 $905 $1,241 $1,209 $1,287
2008 $920 $1,267 $1,248 $1,272
2007 $874 $1,194 $1,186 $1,160
2006 $883 $1,191 $1,208 $1,140
2005 $858 $1,147 $1,182 $1,227

San Luis Obispo 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 San Luis Obispo California was 2.79% according to Census ACS data.

Rental Vacancy Rate in San Luis Obispo California

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
California 3.33% -0.57% -1.18%
San Luis Obispo, CA 2.79% -0.43% +0.56%

Trends in San Luis Obispo, CA Rental Vacancy Rate

The rental vacancy rate in San Luis Obispo peaked in 2010 at 6.04%. Since then it has fallen by 3.25% to 2.79%. Data records for this series originated in 2005. From a 2013 post peak low of 1.71%, the rental vacancy rate has increased by 1.08%.

Rental Vacancy Rate: San Luis Obispo CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for San Luis Obispo

Date US California San Luis Obispo, CA
2015 5.85% 3.33% 2.79%
2014 6.32% 3.90% 3.22%
2013 6.49% 4.22% 1.71%
2012 6.77% 4.51% 2.23%
2011 7.40% 4.94% 3.86%
2010 8.17% 5.86% 6.04%
2009 8.43% 5.76% 5.63%
2008 7.86% 4.71% 4.07%
2007 7.87% 4.72% 2.03%
2006 7.70% 4.67% 3.38%
2005 7.74% 4.61% 4.27%

Rent as a Fraction of Income

Using median household income data for San Luis Obispo, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For San Luis Obispo, median monthly gross rent as a fraction of median household income was 24.02% in 2015 according to the ACS.

San Luis Obispo 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%
San Luis Obispo, CA 24.02% +0.97% +0.46%

Trends in San Luis Obispo, CA Rent as a Fraction of Income

The fraction of median San Luis Obispo household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 26.70%. Since then it has fallen by 2.68% to 24.02%.

Fraction of Income towards Rent: San Luis Obispo CA, California, US

Percent of median household income going towards median monthly gross rent in San Luis Obispo California

Historical Data for Annual Rent as a Fraction of Income in San Luis Obispo California

Date US California San Luis Obispo, CA
2015 20.63% 24.39% 24.02%
2014 20.89% 24.57% 23.05%
2013 20.78% 24.40% 24.82%
2012 20.65% 24.69% 23.56%
2011 20.70% 24.59% 26.70%
2010 20.50% 24.18% 25.28%
2009 20.12% 23.52% 23.83%
2008 19.00% 22.32% 22.16%
2007 18.66% 21.58% 22.57%
2006 18.90% 21.80% 24.95%
2005 18.89% 21.77% 24.21%

Renter Fraction in San Luis Obispo California

You can calculate the renter fraction in San Luis Obispo 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 San Luis Obispo as a fraction of total San Luis Obispo households. In 2015 41.06% of households were renters according to Census ACS data.

San Luis Obispo 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%
San Luis Obispo, CA 41.06% +0.68% -3.88%

Trends in the San Luis Obispo, CA Renter Fraction

The San Luis Obispo household renter fraction peaked in in 2012 at 44.94% and is now 3.88% below that level. The origin year for the series is 2005.

Fraction of Renting Households: San Luis Obispo CA, California, US

Fraction of renters in San Luis Obispo

History of San Luis Obispo Renter Fraction

Date US California San Luis Obispo, CA
2015 36.97% 46.41% 41.06%
2014 36.90% 46.27% 40.38%
2013 36.50% 46.21% 43.17%
2012 36.09% 45.97% 44.94%
2011 35.42% 45.12% 43.89%
2010 34.65% 44.36% 39.93%
2009 34.13% 43.43% 38.08%
2008 33.36% 42.95% 36.88%
2007 32.80% 42.00% 42.60%
2006 32.73% 41.55% 40.54%
2005 33.10% 41.56% 37.18%

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.