Fresno Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Fresno, CA. Currently, the overall median rent in the city stands at $1,308, roughly the same as last month. Prices remain up 0.4% year-over-year. Read on to learn more about what’s been happening in the Fresno rental market and how it compares to trends throughout the nation as a whole.

Fresno rents are flat month-over-month and flat year-over-year

The median rent in Fresno fell by 0.3% over the course of April, and has now increased by a total of 0.4% over the past 12 months. Fresno’s rent growth over the past year has has outpaced both state (-0.9%) and national (-0.8%) averages.

Fresno rent growth in 2024 pacing below last year

Four months into the year, rents in Fresno have fallen 1.5%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 1.3%.

April rent growth in Fresno ranked #93 among large U.S. cities

Fresno rents went down 0.3% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #93. Similar monthly rent growth took place in Austin, TX (-0.2%) and Colorado Springs, CO (-0.4%).

Fresno is the #67 most expensive large city in the U.S., with a median rent of $1,308

Citywide, the median rent currently stands at $1,035 for a 1-bedroom apartment and $1,277 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,308. That ranks #67 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Fresno is 6.3% lower than the national, and is similar to the prices you would find in St. Paul, MN ($1,334) and Reno, NV ($1,308).