Temperatures weren't the only thing that were up last month. According to Zumper's latest report, rents were rising, too. The median rent for one-bedrooms in LA in August was $1,830, a 7.6 percent increase from the last three-month period. Two-bedroom apartments were up 5.6 percent from the last quarter, to $2,640. With these numbers, it makes sense that the average Angeleno is putting almost half their income toward paying their rent.
Downtown Santa Monica is holding strong as the most expensive place to rent in the LA area, with a median one-bedroom rent of $3,220 in August—a 1.6 percent rise since the last quarter. DTLA was the second runner-up, with a one-bedroom median of $2,460. Venice and Pac Pal were among the most expensive places to rent in the area.
The cheapest places to rent in LA in August were in South LA, like Florence-Graham, where the one-bedroom median was just $850. Northeast LA neighborhoods Glassell Park and Cypress Park had one-bedroom medians of $1,200 and $1,300, respectively. Those number were comparable to the one-bedroom medians for the more central Pico-Union ($1,210) and MacArthur Park ($1,310) 'hoods. Zumper's full map and top 30 neighborhoods are below:
· Zumper National Rent Report: September 2015 [Zumper]
· The Average Angeleno is Now Paying Nearly Half Their Income Toward Rent [Curbed LA]