Rental prices in Los Angeles crept up .2 percent from September to October, but compared to October last year, they’re up 3.1 percent, according to a new report out from rental site Apartment List. The report, which draws on rental prices from the site’s listings in the previous month, found that the median one-bedroom in the city of Los Angeles now rents for $1,890. A median two-bedroom costs $2,600 a month.
Last month, the always-pricey Westwood was the most expensive neighborhood in Los Angeles for renters. There, a median two-bedroom apartment runs $4,120 a month, and a one-bedroom rents for $3,160. That high rent is most likely the result of high demand for apartments close to UCLA’s campus, which probably means the cost of rent is split among multiple college students.
There are neighborhoods, including Lake Balboa, North Hollywood, West Adams, and Eagle Rock that are still relatively affordable. Rents for two-bedrooms in those four neighborhoods range from $1,660 to $2,100.
Across the Los Angeles metro area, the city of LA is the second most expensive city behind Pasadena, where renters face median two-bedroom rental prices of $2,650 and one-bedroom median rental prices of $2,110.
With prices like these, it’s no wonder that LA renters aren’t so enthusiastic about LA.
- November 2016 Rental Price Monitor [ApartmentList]
- LA's Top 10 Most Expensive Neighborhoods For Two-Bedrooms [Curbed LA]