The median price of a one-bedroom apartment in Los Angeles was $1,360 in July, according to a new report from Apartment List.
Over the past year, rents have risen just 1.3 percent, slightly above the national average (1.2 percent), but under the average gain of 1.8 percent across all of California.
After facing years of escalating prices, LA renters are getting something of a reprieve in 2018, as prices have more or less flatlined. That doesn't mean rents here are affordable. Nationwide, the median price for a two-bedroom apartment is $1,180, nearly 33 percent below the LA price.
These prices aren’t necessarily reflective of what renters can expect to find when searching for a new place. Apartment List bases its price calculations on Census data, and its data shows what tenants in the city of Los Angeles are paying right now. To get a sense of what the market looks like, we asked CoStar for average rental listing prices across all of LA County.
According to CoStar, one-bedroom prices now sit at $1,678. The price for a two-bedroom apartment? $2,147. Though higher than the Apartment List calculations, those figures also haven’t risen much since last month.
In May, Richard Green, director of the Lusk Center for Real Estate at USC, told Curbed that rent growth in LA may have slowed in response to new housing construction and the ability of some renters to buy rather than continue leasing property.