Renting in SLO County? Here’s a look at the latest prices for apartments
The average cost of rent in San Luis Obispo County stayed steady between July and August, though rents are still higher now than they were this time last year across the board.
New data from Rent.com that monitors the average cost for studio, one-, two- and three-bedroom apartments found that the price of one-bedroom apartments increased the most of any type compared to this time last year.
The analysis found the average price of a one-bedroom apartment was $2,795, a 26% increase over this time last year, while studio apartments averaged $2,004, a 22% increase.
Two-bedroom apartments averaged $3,066, a 5% increase over last year, while three-bedroom apartments averaged slightly less at $3,000, which was consistent with this time last year.
Month to month, the average cost of rent in most types of apartments has stayed steady since July, the last time data was collected.
The average cost of one- and three-bedroom apartments was identical to the previous data collection time. Meanwhile, two-bedroom apartment costs grew slightly from $3,007 to $3,066, and studio costs grew from $1,995 to $2,004.
The analysis also detailed the most and least expensive places to live in the city of SLO. The Highland Drive neighborhood near Cal Poly, which averaged $1,500 for a one-bedroom apartment, was the most affordable in the city, while Broad Street one-bedroom apartments averaged $2,795.
“The most affordable neighborhoods in San Luis Obispo are Highland, where the average one-bedroom apartment rent goes for $1,500, Mill Street Historic District, where renters pay $1,935 on average for a one-bedroom apartment, and Downtown SLO, where the average one-bedroom apartment rent goes for $2,600,” the article said.
No type of apartment averaged rent in the $501-$700 or $701-$1,000 ranges.
With 13% of apartment averages falling in the $1,001-$1,500 range and 19% falling between $1,501 and $2,100, the majority of all apartment rents in the city cost more than $2,101, making up 68% of the market.
The city of SLO’s one-bedroom apartment average was also higher than any other city in the county tested, while cities like Atascadero and Paso Robles’ two- and three-bedroom rents were more expensive on average, according to Rent.com.
The average cost of a two-bedroom apartment in Atascadero was $3,900, while three-bedroom apartments averaged $4,100.
Paso Robles was less expensive, with two-bedroom apartments averaging $3,180 and three-bedroom apartments averaging $3,528.
This story was originally published August 8, 2022 at 5:00 AM.
