Santa Cruz California Residential Rent and Rental Statistics
The median monthly gross residential rent in Santa Cruz, CA (the Santa Cruz-Watsonville metro area) was $1,785 in 2019 according to the Census ACS survey.1 Average gross rent in Santa Cruz was $1,770 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Santa Cruz median and average rent data will be released in September of 2021.
Data is also available below for Santa Cruz rental vacancy rates, Santa Cruz rent as a percent of median income and the fraction of renters in Santa Cruz.
Real Gross Rent in Santa Cruz California (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| California Median Gross Rent | $1,614 | +4.33% | +12.08% |
| Santa Cruz, CA Median Gross Rent | $1,785 | +4.08% | +6.95% |
Santa Cruz, CA Real Gross Rent Trends
At $1,785, real median gross rent in Santa Cruz was at its highest level in 2019 since the series began in 2005. At $1,770, real average gross rent in Santa Cruz was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Santa Cruz: Santa Cruz CA Median, Santa Cruz CA Average, California Median, US Median
Real Gross Rent History for Santa Cruz
| Date | US Median |
California Median |
Santa Cruz, CA Median |
Santa Cruz, CA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,614 | $1,785 | $1,770 |
| 2018 | $1,077 | $1,547 | $1,715 | $1,701 |
| 2017 | $1,043 | $1,492 | $1,732 | $1,615 |
| 2016 | $1,027 | $1,440 | $1,669 | $1,669 |
| 2015 | $1,017 | $1,391 | $1,530 | $1,562 |
| 2014 | $986 | $1,339 | $1,559 | $1,552 |
| 2013 | $953 | $1,289 | $1,422 | $1,429 |
| 2012 | $940 | $1,277 | $1,568 | $1,562 |
| 2011 | $941 | $1,268 | $1,467 | $1,472 |
| 2010 | $955 | $1,300 | $1,435 | $1,402 |
| 2009 | $960 | $1,316 | $1,437 | $1,416 |
| 2007 | $927 | $1,266 | $1,362 | $1,420 |
| 2005 | $910 | $1,216 | $1,503 | $1,486 |
Santa Cruz Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Santa Cruz California was 3.89% according to Census ACS data.
Rental Vacancy Rate in Santa Cruz California
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| California | 4.06% | +0.09% | +0.75% |
| Santa Cruz, CA | — | — | — |
Trends in Santa Cruz, CA Rental Vacancy Rate
The rental vacancy rate in Santa Cruz peaked in 2010 at 6.75%. Since then it has fallen by 2.86% to 3.89%. Data records for this series originated in 2005. From a 2016 post peak low of 1.59%, the rental vacancy rate has increased by 2.30%.
Rental Vacancy Rate: Santa Cruz CA, California, US
Historical Rental Vacancy Rate data for Santa Cruz
| Date | US | California | Santa Cruz, CA |
|---|---|---|---|
| 2019 | 5.97% | 4.06% | — |
| 2018 | 6.15% | 3.97% | 3.89% |
| 2017 | 6.18% | 3.49% | — |
| 2016 | 5.89% | 3.31% | 1.59% |
| 2015 | 5.85% | 3.33% | — |
| 2014 | 6.32% | 3.90% | 1.64% |
| 2013 | 6.49% | 4.22% | 2.04% |
| 2012 | 6.77% | 4.51% | 2.74% |
| 2011 | 7.40% | 4.94% | 2.31% |
| 2010 | 8.17% | 5.86% | 6.75% |
| 2009 | 8.43% | 5.76% | 5.64% |
| 2007 | 7.87% | 4.72% | 3.84% |
| 2005 | 7.74% | 4.61% | 2.50% |
Rent as a Fraction of Income
Using median household income data for Santa Cruz, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Santa Cruz, median monthly gross rent as a fraction of median household income was 23.99% in 2019 according to the ACS.
Santa Cruz California Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| California | 24.08% | -0.15% | -0.28% |
| Santa Cruz, CA | 23.99% | +0.74% | -0.65% |
Trends in Santa Cruz, CA Rent as a Fraction of Income
The fraction of median Santa Cruz household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 27.11%. Since then it has fallen by 3.12% to 23.99%.
Fraction of Income towards Rent: Santa Cruz CA, California, US
Historical Data for Annual Rent as a Fraction of Income in Santa Cruz California
| Date | US | California | Santa Cruz, CA |
|---|---|---|---|
| 2019 | 20.03% | 24.08% | 23.99% |
| 2018 | 20.50% | 24.23% | 23.26% |
| 2017 | 20.13% | 24.18% | 25.29% |
| 2016 | 20.43% | 24.36% | 24.65% |
| 2015 | 20.63% | 24.39% | 26.56% |
| 2014 | 20.89% | 24.57% | 27.11% |
| 2013 | 20.78% | 24.40% | 23.67% |
| 2012 | 20.65% | 24.69% | 26.10% |
| 2011 | 20.70% | 24.59% | 26.07% |
| 2010 | 20.50% | 24.18% | 25.23% |
| 2009 | 20.12% | 23.52% | 24.61% |
| 2007 | 18.66% | 21.58% | 21.81% |
| 2005 | 18.89% | 21.77% | 24.60% |
Renter Fraction in Santa Cruz California
You can calculate the renter fraction in Santa Cruz 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 Santa Cruz as a fraction of total Santa Cruz households. In 2019 40.07% of households were renters according to Census ACS data.
Santa Cruz Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| California | 45.14% | -0.04% | -1.22% |
| Santa Cruz, CA | 40.07% | +0.17% | -1.51% |
Trends in the Santa Cruz, CA Renter Fraction
The Santa Cruz household renter fraction peaked in in 2015 at 44.59% and is now 4.52% below that level. From a recent low of 37.79% in 2017, the household based renter fraction has now grown by 2.28%. The origin year for the series is 2005.
Fraction of Renting Households: Santa Cruz CA, California, US
History of Santa Cruz Renter Fraction
| Date | US | California | Santa Cruz, CA |
|---|---|---|---|
| 2019 | 35.89% | 45.14% | 40.07% |
| 2018 | 36.05% | 45.18% | 39.90% |
| 2017 | 36.13% | 45.21% | 37.79% |
| 2016 | 36.88% | 46.36% | 41.58% |
| 2015 | 36.97% | 46.41% | 44.59% |
| 2014 | 36.90% | 46.27% | 43.42% |
| 2013 | 36.50% | 46.21% | 39.96% |
| 2012 | 36.09% | 45.97% | 43.27% |
| 2011 | 35.42% | 45.12% | 42.69% |
| 2010 | 34.65% | 44.36% | 40.60% |
| 2009 | 34.13% | 43.43% | 39.26% |
| 2007 | 32.80% | 42.00% | 40.50% |
| 2005 | 33.10% | 41.56% | 40.18% |
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. ↩
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