Considered a roommate? report highlights local rental bargains | New

Bakersfield rental market experts haven’t seen it. However, they agree with recent data showing that the price difference between local one-bedroom and two-bedroom apartments is small or insignificant in some areas of the city, and the upgrade makes sense. ..

But what surprised the website’s claim was that Bakersfield was placed on another Top 10 list because of the numbers and methodologies behind it.

If the question is whether the demand for one-bedroom units exceeds the demand for two-bedroom apartments, housing manager and investor Frank St. Clair said, “Therefore, the difference between a bedroom and a bedroom nowadays. Is probably small. “Price for a two-bedroom apartment.

But he laughed at the idea that a tenant could save so much money just by moving to a bigger apartment. He said prices for some Bakersfield rental communities owned and operated by his company typically differ by about $ 100 per month. In some cases it is only 11% higher for additional bedrooms.

Her advice was to find a roommate who would help a one-bedroom tenant reduce both housing costs. He said he could pay $ 500 per person instead of $ 900 each month. This saves $ 4,800 per year.

“So that would really be like a price cut,” he said.

Rent.comTwo-bedroom apartments have not been occupied due to the surge in US demand for one-bedroom units and historically expensive rentals, primarily in areas close to major metropolitan areas in the Midwest and West , according to the report. There is a price.

He spoke of the impact on the local market of escaping to cheaper areas, unlike what Bakersfield had experienced since the start of the pandemic due to the influx of immigrants from the Los Angeles Basin.

The report only covers cities with more than 50,000 inhabitants and at least 10 of each rental type available for rental. Based on the apartment guide, we calculated the rental price with a one-year weighted moving average. Rent.comOnline inventory of rental apartments in July.

Using a weighted average system to reflect the price availability of each type of unit while adjusting for seasonality, the rent for one bedroom apartments in Bakersfield is estimated at $ 1,104 and the price for two bedrooms is estimated at $ 955. increase.

“The move from one-bedroom to two-bedroom apartments in these cities may prevent serious changes,” the report opens. The biggest market for the biggest price difference was Temecula, with an average rent for a room of $ 3,234 in July. Rent.comAccording to the calculation, the two bedroom was $ 1,885.

Local influx like the genre Rent.com As noted, apartment vacancy rates in Bakersfield hit an all-time high of 0.98% in the second quarter of this year. Meanwhile, the median number of single-family homes in Bakersfield recently broke records 15 years ago.

Mark Thurston, a recognized authority in the Bakersfield condominium market, Rent.com..

Thurston, senior vice president of ASU Commercials, created a quarterly survey of housing rents to go from one to two apartments in the spring with record vacancy rates, but with small monthly fees. This shows that it only takes. Maybe the price was the same.

Its second quarter updates also suggest that residents can actually save money by switching from one-bedroom to two-bedroom apartments.

In particular, there was a significant gap between the upper limit of the range of one bedroom apartments and the lower limit of the location of two bedrooms. In that sense, those who are willing to add a bedroom and move to a less desirable location can actually save money each month.

The breakdown of ASU’s rent for the second quarter of 2021 by submarket is as follows.

• South: $ 700 to $ 1,050 per month for one bedroom and $ 725 to $ 1,150 for two bedrooms
• South-West-East: $ 750 to $ 1,140 per month for one bedroom, $ 790 to $ 2,002 for two bedrooms
• South-West-West: $ 895 to $ 1,613 / month for one bedroom and $ 1,394 to $ 1,731 for two bedrooms
• is: $ 800 / month for one bedroom, $ 800 – $ 850 for two bedrooms
• Center: $ 625 to $ 1,125 per month for one bedroom and $ 695 to $ 1,225 for two bedrooms
• North: $ 525 to $ 1,295 per month for one bedroom and $ 695 to $ 1,395 for two bedrooms
• Northeast : $ 595 to $ 1,150 per month for one bedroom, $ 695 to $ 1,425 for two bedrooms
• North West: $ 1,160 to $ 1,836 per month for one bedroom, $ 1,260 to $ 2,115 for two bedrooms

Thurston said in an email he needs to review the data before making a decision. Rent.comReport. The company’s analysis may have compared units from different parts of the city, or Bakersfield may have suddenly increased in single adults and students from outside the region.

Alternatively, he writes, website researchers may have investigated a rental community with a low inventory of one-bedroom units.

“As a result, one bedroom may be more premium than two bedrooms, based on a simple request and request,” Thurston wrote. He added that developers tend to focus on two and three bedroom units due to historically high rents.

Scott Nobu, president of the Bakersfield Real Estate Association, did not buy it.

His company manages around 200 units, from studios to T5. In his 15-year-old business, he said, he’s never seen people save money just by switching to a two-bedroom.

Some one-bedroom apartments are transformed as soon as the young man who rents the first apartment is promoted to work and wants to modernize. This exposes these apartments to market conditions more often, Knoeb said. Meanwhile, similar units could be “fixed” by government rent subsidies that favor long-term tenants who are less sensitive to fluctuations in home prices, he said.

He said demand for his one-bedroom and two-bedroom apartments is comparable.

“Everyone there now is desperate,” he said. “There is so much demand. It’s frankly sad. It really is. “