With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today during our fall member drive.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Breaking: Rents in Silver Lake Are Way High
Photo by Joséphine Runneboom via the LAist Featured Photos pool on Flickr
()
Has your instinct ever told you that rents in Silver Lake are possibly higher than those in surrounding neighborhoods?
Well, guess what? Your hunch is right. A survey done by real estate developer and broker Moses Kagan found that apartments for rent in Silver Lake are nearly twice as expensive as apartments of comparable size in Highland Park. To wit: A two-bedroom, one bath in Highland Park goes for about $1,100, as compared to about $2,195 in Silver Lake. One-bedrooms in Highland Park average $925, and studios average $800.
Kagan told us that the likely reason is that Silver Lake is -- regardless of the hipster stereotypes that plague it -- a great place to live.
"Silver Lake is a really amazing neighborhood," he said. "People really want to live there, particularly that prime rental demographic in their 20s and early 30s."
Support for LAist comes from
He added that Silver Lake is "ten to 15 years further ahead on the gentrification cycle than Highland Park is," which, of course, also drives up rent.
But Kagan believes that there's wisdom in renting in Highland Park, for those who may be so inclined.
"Given the way L.A. rent control works, if you like Highland Park and you think it's gonna get better -- and incidentally I agree with you -- then it is a good idea to jump on a cheap place now," he said. "You'll find that if you stay there a for a couple of years," it will become a very good deal.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
Flauta, taquito, tacos dorados? Whatever they’re called, they’re golden, crispy and delicious. -
If California redistricts, the conservative beach town that banned LGBTQ Pride flags on city property would get a gay, progressive Democrat in Congress. -
Most survivors of January's fires face a massive gap in the money they need to rebuild, and funding to help is moving too slowly or nonexistent. -
Kevin Lacy has an obsession with documenting California’s forgotten and decaying places. -
Restaurants share resources in the food hall in West Adams as Los Angeles reckons with increasing restaurant closures. -
It will be the second national day of protest against President Donald Trump.
Best of LAist