Nifty new statistics show some puzzling things from our friends at RentSlicer. Koreatown is once again the spot to find the cheapest rent in Los Angeles. And shockingly, the average rent has fallen below $1,000 for the first time since January. But this is an imprecise science, so it likely fluctuates north and south of the 1K line fairly often.
In other cheap spots, the average rental is now above $1,100 for #2-#10 on the list. That's a first. And now two locations, Malibu and Pacific Palisades are above $4,000 per month for the average rental. Last month, only the Palisades had hit that number. The stats tell us, and remember this is an imprecise science, that rents are climbing, Koreatown notwithstanding. The fallout from the housing slump/burst/bomb continues...
· RentSlicer: The Last Three Months [Curbed LA]
· Property statistics for Los Angeles [Rentsclicer.com]