Salinas, CA posted the tightest occupancy in the nation among the 150 largest apartment markets. Salinas’s August reading of 97.5% registered 290 basis points (bps) higher than the West region average and 340 bps above the U.S. norm, according to data from RealPage Market Analytics. In fact, Salinas has consistently registered high occupancy over the past decade, averaging 97.6% since 2014. By comparison, both the West region (95.7%) and the U.S. (95.3%) saw occupancy rates average closer to the effectively full mark over the past 10 years. Located about an hour south of San Jose, the small Salinas market has about 25,000 existing units. It is the seat of government for Monterey County and serves as an important business, governmental and transportation hub for the region. With its proximity to the ocean and temperate climate, Salinas is also a rich and diverse agricultural area with a thriving tourist industry.
