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 The Apartments at Toscano, LP.

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 $3,975 and $4,900.

In San Luis Obispo, 60% of the residents are renting compared to 40% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 6% of San Luis Obispo's rentals, 63% are small-scale complexes with under 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.

Rental apartments in San Luis Obispo come in a range of sizes and floorplans. Studio apartments represent 20% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 28% of the total apartments in the city, while 2-bedroom floorplans represent around 33% of all rentals in San Luis Obispo. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.