The apartment vacancy rate in the city of Davis increased slightly to 0.8 percent this fall, and rental rates rose by an average of 4.36 percent, according to a survey by Ƶ.
The Office of Student Housing conducts the annual vacancy and rental-rate survey, now in its 33rd year, to provide the campus and the city of Davis with information for future planning. Economists and urban planners consider a vacancy rate of 5 percent to be the ideal balance between landlord and tenant.
“The continuing low vacancy rate confirms that the university’s plan to build more housing for students is a good strategy,” said Emily Galindo, director of Student Housing.
Galindo said the university is moving forward with two projects for student housing.
According to the Ƶ survey, the average monthly rent this year for unfurnished two-bedroom apartments—which are the most abundant type of apartment unit and account for 45 percent of the units in the survey—rose 4.52 percent, from $1,172 to $1,225. The highest average monthly rent increase was 9.86 percent for 184 furnished one-bedroom apartments (from $771 to $847).
— Dateline staff
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Clifton B. Parker, Dateline, (530) 752-1932, cparker@ucdavis.edu