Median 1-Bedroom Apartments Now Cost $2,000, a New Report Says
The median price of a one-bedroom apartment in L.A. has reached $2,000, according to the June 2016 Los Angeles Rent Report from Apartment List.
That figure might be a bit high: The rental website bases its analysis on "several hundred thousand listings" it publishes. Your results may vary.
But it gives you some idea about how crazy rent is in our market. Apartment List says rent in L.A. was 4.2 percent higher in May compared with the same time last year.
Westwood successfully defended its title as L.A.'s rent champion. A lease for a two-bedroom apartment there will cost you $4,350 a month, the site said.
Marina del Rey ($3,530 for a two-bed) came in second place. Downtown ($3,340) was third. Hollywood ($2,970) was fourth. And Studio City ($2,180) was fifth.
Interestingly, Hollywood, the subject of a political battle over developments that are adding much-needed (albeit pricey) units to L.A.'s housing stock, saw a slight rent decrease of 0.2 percent compared with April, Apartment List found.
"Los Angeles rents increased by 0.9 percent over the past month," a spokesman for the site said.
The citywide one-bedroom price was pegged at $2,710.
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"Besides L.A. itself, Pasadena is the most expensive city for renters in the Los Angeles metro at $2,540 for a 2-bedroom," the spokesman said.
Hold on tight.
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