Here's What $1,500 in Rent Gets You in L.A.
Fifteen hundred dollars sounds like a lot of money.
But by most estimates we've seen, that's actually below the median monthly rate for even a one-bedroom apartment in Los Angeles.
In fact, last month Apartment List pegged our market's median rent for a one-bed at $2,000.
The folks at rental site RentCafe used Yardi Matrix data and other figures to answer the question: "How Much Space Does $1,500 Rent You in the 30 Most Populous U.S. Cities?"
In L.A. the answer is, "not much."
Here, that kind of money gets you a 570-square-foot apartment, on average, the analysis found. There are closets bigger than that.
Overall, L.A.'s square footage figure was the sixth smallest among those 30 cities.
New York's 271 square feet for $1,500 was the champ. San Francisco came in second place with 342 square feet. Boston was third with 399. San Jose was fourth with 526. And Washington, D.C., was fifth with 558.
In L.A., $1,500 is good for more than twice the $271 square feet that same amount could get you in New York. So there's that.
"To keep your rent reasonable in NYC, you’d have to find an apartment barely big enough for a bed and a bathroom," according to a RentCafe statement. "In Los Angeles on the other hand, the same amount of cash could get you a twice-as-large apartment."
If you really want to spread your wings, Memphis was the place with the most square footage (1,948) for $1,500. We've seen Beverly Hills homes with less square footage.
Keep this in mind, however: The barbecue is tops in Memphis, but there are no waves.
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