One of the more popular places in Newport Beach to find rental properties is on Balboa Island. If you have ever visited Newport Beach then you know Balboa Island is one of the top tourist destinations filled with charming houses and quaint retail stores. If you have every wanted to live here and thinking about renting a home here then there are some key things to understand before you start your search. First, there is a mixture of rentals located here from weekly rentals to long term rentals of 12 months or more. For the most part, at any given time I would estimate about half of these rental listings will be for a long term lease. The other half would be for those weekly rentals, monthly rentals and those with negotiable lease terms. Second, real estate prices will vary depending on the length of the lease. Rates tend to be lower for long term leases and much higher if you are only staying there for one month. Finally, when you stay will also determine the price as the high season summer months are the most popular and also the most expensive.
Rental prices for long term 12 month rentals on Balboa Island currently start at $2,100 a month for a one bedroom upstairs unit of a duplex with approximately 550 square feet. Larger two bedroom units which can also be found in part of a duplex currently start $3,600 a month. There is also one bay front 3 bedroom listing on the market for $15,000 a month which is also asking for a 12 month lease. Weekly rentals will vary a lot depending on the month you would want to stay, There is a property at 314 Ruby street that is currently advertising a rate of $4,000 weekly or $6,000 a month which comes fully furnished. There are also homes that are rented by the month like 227 Apolena which has summer rates of $10,000 a month during the months of June through August as well as a long term rental rate of $5,985 a month as well. Prices will vary and change at any given time so please check with any of our Newport Beach Real Estate agents for current pricing and availability.