FRESNO, Calif. (KSEE/KGPE) - A recent report has ranked the Central Valley as the third "hottest" rental market in California during the 2024 peak season, making it one of the most competitive markets and most difficult to rent in. According to the report by Rent Café, high occupancy rates, increased competition, and minimal new construction are tightening the Central Valley's rental market during this peak season. Rent Café says the overall market has become significantly more competitive than last year with 96.0% of apartments occupied in 2024, compared to 95.9% in 2023. The Central Valley earned a rental competitiveness score of 77.1 due to several factors including Intensified competition: 11 prospective renters are vying for each available unit More renters staying put: the lease renewal rate has risen to 53.3% from 52.6%, further limiting available units Minimal New Supply: New apartment supply has only marginally increased to 0.08% from 0.06% last year, severely limiting options for renters seeking new units Rents Café says those expecting an easier renting season in California's Central Valley this year might unfortunately need to adjust their expectations.