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GOBankingRates
GOBankingRates
John Schmoll

Retirees Should Avoid Renting in These 4 California Cities With the Most Competition

California RentCafe Redfin
Shutterstock.com

Retirees may fantasize about retiring to California, only to meet the reality of the state’s expensive real estate market. It’s no surprise that the Golden State is losing residents nearing or in retirement.

California lost almost 57,000 residents aged 60 and over in 2023, according to CNBC. Retirees who remain have the challenge of finding an affordable place to live. Purchasing a house in California is notoriously expensive. It’s no surprise that renters face similar difficulties in the Golden State. Challenges include high lease renewal rates, few new apartments and a below average number of vacant days, according to RentCafe.

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