Rents are down in Santa Cruz since last year, by 6.7 percent on average. Despite the drop, rental rates in the county are still the highest in the state.
Rents are down in Santa Cruz since last year, by 6.7 percent on average, but that’s no consolation for renters. Despite the drop, rental rates in the county are still the highest in the state. Because the survey only covered rental communities with 50-250 units—which are relatively sparse in Santa Cruz—and because occupancy rates climbed slightly, the decline has been less pronounced than in other communities. And the one-year decline is not indicative of longer term trends. Over the past four years, for instance, rental rates increased by 14.2 percent.
Read More at The Mercury News.
