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 ٺƵ.
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 ٺƵ 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