So Los Angeles rents have wiggled their way up yet again from the last quarter, with the median rent for all units now hitting $1,865, says the third quarter data out from rental site Lovely. The median had fallen a bit in the second quarter (to $1,795), but now it's up higher than before (at $1,850 in the first quarter); more glaringly, that number represents a sizable 10.36 percent increase over the median rent for the same time last year. (That's three times the increase that San Francisco's notoriously insane rates saw this quarter; there's less room to grow there.) One bright spot: studio units are actually cheaper than they were this time last year, although still more expensive than they were last quarter. Later this week we'll look at the neighborhood-by-neighborhood, but it's no shocker that Bel Air, Pacific Palisades, and Venice are all in the top five.
· Lovely Third Quarter Report [Lovely]
· Los Angeles Rents Now Starting to Fall From Crazy Highs [Curbed LA]
· Rents in Los Angeles Shooting Up Faster Than in San Francisco [Curbed LA]