Westside Rents Are Out of This World (MAP)
Sure, downtown, Hollywood, and Koreatown are no longer the discount neighborhoods for renters they once were. The median price of a two-bedroom apartment in those areas last month was $3,330, $3,000 and $3,000, respectively, according to a new report.
But if you want to spend the price of a new Mercedes in a year on your annual lease, you can do that and then some on the Westside these days. The latest Apartment List Rent Report for Los Angeles shows some jaw-dropping median September rents for two-bedroom units in Beverly Glen ($6,000), Venice ($5,100), Santa Monica ($4,450), Westwood ($4,170) and Century City ($3,800) — the most expensive rental communities in the city.
The median individual income in L.A. County is $27,987. Who are these people who can afford these places?
Apartment List says L.A. rents increased 3.1 percent compared to September 2015. The average national rent increased 2.1 percent during that time, according to the site's analysis of its listings. The August to September increase was only 0.4 percent in L.A., Apartment List found.
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And those eye-opening rates are much lower for one-bedroom units. The city median in September was $1,910, which is great if you can fit five roommates in one of those places. The citywide median for a two-bedroom was $2,630, the site says.
Outside of the city of L.A., Pasadena had the highest two-bedroom median — $2,620, according to the report. Pasadena rents were up 5.9 percent compared to September 2015. Irvine ($2,490 for a two-bedroom), Glendale ($2,420) and Huntington Beach ($2,130) rounded out the Greater L.A. top five cities for high lease rates.
Looking for a discount? You can find two-bedroom apartments south of the 10 freeway in Los Angeles for $1,640, the site says.
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