It's Not Your Imagination: Rents Are Still Rising
Much of Los Angeles is under rent control. L.A. is already the least affordable rental market in the nation. And still, the price of leasing a place keeps going up somehow.
The latest California Rent Report from Apartment List says that we still live in "one of the priciest states in the country for rents."
Golden State rents for two-bedroom units have risen 7.7 percent compared with mid-November of last year.
That compares with a 4 percent increase for the nation as a whole.
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Los Angeles County is home to some of the most expensive rental communities in California. Santa Monica's average $4,300 listing was outdone only by state-topper San Francisco, which saw rents of $4,750, the site said.
Palo Alto ($3,980), home of the Silicon Valley mogul, came in fourth, followed by our own Marina del Rey ($3,650), home of the Silicon Beach mogul. Those ridiculous prices are for two-bed abodes.
In MDR, a one-bedroom is going for $2,770, Apartment List says. Deal.
Statewide, one-bedroom rents are up 9.9 percent from mid November 2014 to mid-November of this year, the site says.
"Not only is California one of the more expensive states for rent prices," Apartment List says, "but its rent growth for both one- and two-bedroom units far outpaces national averages."
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