Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.
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.
As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.
Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.
We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.
Please take action today to support your trusted source for local news with a donation that makes sense for your budget.
Thank you for your generous support and believing in independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
With less to prove than LA, the city is becoming a center of impressive culinary creativity. -
Nearly 470 sections of guardrailing were stolen in the last fiscal year in L.A. and Ventura counties.
-
Monarch butterflies are on a path to extinction, but there is a way to support them — and maybe see them in your own yard — by planting milkweed.
-
With California voters facing a decision on redistricting this November, Surf City is poised to join the brewing battle over Congressional voting districts.
-
The drug dealer, the last of five defendants to plead guilty to federal charges linked to the 'Friends' actor’s death, will face a maximum sentence of 65 years in prison.
-
The weather’s been a little different lately, with humidity, isolated rain and wind gusts throughout much of Southern California. What’s causing the late-summer bout of gray?
Best of LAist