July 2022 Mission Viejo Rent Report
Welcome to the July 2022 Mission Viejo Rent Report. Mission Viejo rents remained steady over the past month. In this report, we'll evaluate trends in the Mission Viejo rental market, including comparisons to cities throughout the metro, state, and nation.
Mission Viejo rents held steady over the past month
Mission Viejo rents have remained flat over the past month, however, they are up sharply by 20.4% year-over-year. Currently, median rents in Mission Viejo stand at $2,355 for a one-bedroom apartment and $2,907 for a two-bedroom. Mission Viejo's year-over-year rent growth leads the state average of 13.5%, as well as the national average of 14.1%.
Rents rising across the Los Angeles Metro
Throughout the past year, rent increases have been occurring not just in the city of Mission Viejo, but across the entire metro. Of the largest 10 cities that we have data for in the Los Angeles metro, all of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.
- Irvine has the most expensive rents in the Los Angeles metro, with a two-bedroom median of $3,217; however, the city has also seen rents fall by 0.1% over the past month, the biggest drop in the metro.
- Santa Ana has seen the fastest rent growth in the metro, with a year-over-year increase of 21.4%. The median two-bedroom there costs $2,241, while one-bedrooms go for $1,794.
- Long Beach has the least expensive rents in the Los Angeles metro, with a two-bedroom median of $1,888; rents were up 0.9% over the past month and 12.3% over the past year.
Many large cities nationwide show more affordable rents compared to Mission Viejo
As rents have increased sharply in Mission Viejo, a few large cities nationwide have seen rents grow more modestly. Compared to most large cities across the country, Mission Viejo is less affordable for renters.
- Rents increased sharply in other cities across the state, with California as a whole logging rent growth of 13.5% over the past year. For example, rents have grown by 19.4% in San Diego, 14.5% in San Jose, and 7.6% in San Francisco.
- Mission Viejo's median two-bedroom rent of $2,907 is above the national average of $1,339. Nationwide, rents have grown by 14.1% over the past year compared to the 20.4% rise in Mission Viejo.
- While Mission Viejo's rents rose sharply over the past year, many cities nationwide also saw increases, including New York City (+26.8%), Austin (+17.4%), and Phoenix (+17.1%).
- Renters will generally find more expensive prices in Mission Viejo than most large cities. For example, Houston has a median 2BR rent of $1,289, where Mission Viejo is more than twice that price.
For more information check out our national report. You can also access our full data for cities and counties across the U.S.
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Marina del Rey
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post about the methodology on our blog.
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.