Is the winter weather freezing Los Angeles rental prices in place? Median monthly rents haven’t budged much since December, according to a new report from Apartment List.
The rental database finds that the median price for a two-bedroom apartment in the city of LA is $1,730—unchanged in the last two months. The price of a one-bedroom did rise a bit in February; it’s now $1,350, a $10 bump over the month before.
The general trend is still upward though. Prices are 3.8 percent higher now than they were one year ago.
There’s reason for optimism if you’re a renter, though. Some experts predict that monthly payments in Los Angeles may level off—or even drop—in 2018, after years of steady increases.
Of course, that doesn’t mean prices in the city are anywhere close to a bargain. A separate report from Apartment List found that Los Angeles is the sixth most unaffordable rental market in the nation, taking into account both cost and renter incomes.
The company’s latest price report may also undersell the kind of rental costs that many residents face. Apartment List bases its median price calculations on U.S. Census data, giving a good sense of what renters around the city are actually paying.
Other sites, like Zillow, rely more on listings to make those calculations, shedding light on what renters looking for a new apartment can expect to find when doing a quick online search. Zillow’s most recent estimate for the price of a one-bedroom apartment in Los Angeles is $2,050. For a two-bedroom? A hefty $2,800.