Rentometer, Inc. | Data as of 10/22/2025
San Luis Obispo’s rental market blends a vibrant college-town atmosphere with the laid‑back charm of the Central Coast, offering a diverse mix of apartments and single‑family homes for renters of every stage. Prospective tenants will find that studios and one‑bedroom units generally fall within the $1800‑$2500 range, while larger apartments and houses can reach the $3000‑$4000 tier, and premium four‑plus bedroom homes often exceed the $5000 mark. This variety reflects the city’s balanced supply of modern high‑rise rentals, historic bungalows, and spacious suburban properties.
The city’s neighborhoods each bring their own appeal. Downtown SLO boasts walkable streets, boutique cafés, and easy access to the iconic Mission Plaza, making it ideal for renters seeking an urban lifestyle. The Higuera and San Luis neighborhoods offer quieter, tree‑lined streets with a mix of craftsman homes and newer townhouses, while the foothill areas near Cal Poly provide student‑friendly apartments and larger family homes. Proximity to attractions such as the historic Mission San Luis Obispo de Tolosa, the scenic Bob Jones Trail, and nearby vineyards adds cultural and recreational value to any rental choice.
Beyond housing, San Luis Obispo is known for its year‑round mild climate, outdoor activities ranging from surf spots at Pismo Beach to hiking in the Los Cruz Valley, and a strong sense of community reflected in local farmer’s markets and arts events. These lifestyle qualities, combined with a stable rental market, make the city a sought‑after destination for professionals, families, and students alike.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,896 | $2,000 | $650 - $2,790 | $1,500 - $2,355 |
| Apartment | 1 Bedroom | $2,394 | $2,452 | $579 - $3,670 | $2,000 - $2,725 |
| Apartment | 2 Bedroom | $2,892 | $3,000 | $940 - $4,700 | $2,495 - $3,450 |
| Apartment | 3 Bedroom | $4,001 | $4,000 | $1,350 - $6,200 | $3,100 - $5,600 |
| Apartment | 4+ Bedroom | $2,437 | $1,667 | $649 - $9,450 | $899 - $1,905 |
| House | Studio | $1,856 | $1,912 | $1,500 - $2,100 | $1,900 - $2,100 |
| House | 1 Bedroom | $2,156 | $2,200 | $700 - $3,000 | $1,800 - $2,800 |
| House | 2 Bedroom | $3,308 | $3,200 | $1,565 - $7,000 | $2,900 - $3,600 |
| House | 3 Bedroom | $4,410 | $4,387 | $1,300 - $7,500 | $3,800 - $4,995 |
| House | 4+ Bedroom | $6,206 | $5,600 | $3,500 - $12,000 | $5,000 - $6,600 |
In the current period, the average rent in San Luis Obispo was $1,891 for Studio, $2,343 for 1 Bedroom, $3,093 for 2 Bedroom, $4,364 for 3 Bedroom, and $5,162 for 4+ Bedroom.
Data provided by Rentometer, Inc.