Apartments for Rent in San Luis Obispo, CA

Prices and availability in San Luis Obispo, CA were last updated on 8 Sep 2026.

The best apartments in San Luis Obispo, CA are: The Slo, Roundhouse Place, Connect, VILLAGE AT BROAD STREET and 863 Toro.

The average rent in San Luis Obispo, CA is $2,949.

The price range for a 2-bedroom apartment in San Luis Obispo, CA is between $2,300 and $3,600.

The price range for a 3-bedroom apartment in San Luis Obispo, CA is between $3,500 and $4,900.

In San Luis Obispo 60% of the housing is rented out compared to 40% of homes are owned, according to the most recent Census Bureau estimates. 6% of San Luis Obispo's apartments are found in large buildings of 50 units or more, 63% are located in smaller apartment complexes with less than 50 units, and 29% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in San Luis Obispo are about 41 years old, on average. Of these, 29% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About 97% of the rental communities here are low-rise, garden-style communities, 3% are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Studio apartments in San Luis Obispo are around 20% of rentals, while 1-bedroom floor plans represent 28% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 33% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.