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LAX-Adjacent Rents Now on Par With Beverly Hills Rents

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Los Angeles rents are heading right on up again following a tiny drop in March; from March to April, the average price per bedroom was up 4.2 percent, and from the previous three-month period to this one, it was up 3.4 percent, according to listings site Zumper (which uses data from its own listings; it doesn't have the volume of, say, Craigslist, but it also weeds out dupes and otherwise bad postings). Zumper's now puts the average price per bedroom in Los Angeles at $1,500 a month—that's just the amount a renter might pay for each additional bedroom in a rental; the average price for a one-bedroom apartment is up 4 percent to $1,800 and the average price for a two-bedroom is up 2 percent to $2,600. Overall, Los Angeles rose two spots in April to become the seventh most expensive rental market in the country (but still the least affordable).

Downtown Santa Monica is still the most expensive place to rent in Los Angeles, and the rents keep shooting up: one-bedrooms were 3.3 percent more expensive in April than in March and up 10.7 percent for the quarter, to $3,100. Marina del Rey one-bedrooms are up to $2,600, Venice one-bedrooms are up to $2,580, and LAX-adjacent Westchester/Playa del Rey (which includes the Playa Vista planned community and tech hub) really is gentrifying, with one-bedrooms up a whopping 15.2 percent to $2,120 (that was higher than Beverly Hills at $2,100).

Downtown, on the other hand, dropped four spots on the top 30 list, to number 10, with one-bedroom rents falling 4.6 percent, to $2,270.


· Zumper National Rent Report: April 2015 [Zumper]
· Mapping the Cheapest and Most Expensive Places to Rent in Los Angeles Right Now [Curbed LA]
· LAX-Adjacent Westchester is Getting Super Popular and Pricey [Curbed LA]