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Temperatures may finally be starting to drop outside, but unfortunately as we head into fall rental prices around much of Los Angeles have continued to increase, according to a new survey.The real estate website Zumper took a look at the rental prices across L.A. and found that the median price for a one-bedroom in August was $1,830, up from $1,700 back in May. Meanwhile, the median price for a 2-bedroom was $2,640, up from $2,500. Congrats L.A., we've maintained our position as the 9th most expensive market in the country. Watch out Miami, we're creeping up on you.
To help us get our mind around the ups and downs (but mostly ups) of rental prices, the company has released a new map, which shows the cheapest and most expensive places to rent. The map shows rental prices from downtown to Santa Monica and Westchester to Hollywood, and whether the median prices have increased or decreased. Rental prices tended to be higher towards the Westside—not surprisingly—but booming Downtown also managed to make a strong showing with the median price for 1-bedrooms at $2,460. Santa Monica once again holds the title for most expensive area with $3,220 for a 1-bedroom, while Ocean Park ($3,120) and Venice ($2,650) come in a close second and third. Even Silver Lake ($1,950) is edging up on pricey West Hollywood ($2,010).
If you're looking for a relative bargain, head southeast where the median price in Florence-Graham is $850. Or you might consider Glassell Park ($1,200), Pico-Union ($1,210) or Mid-City ($1,280). Yes, citizens of the Valley, you've been left out, again, and there's no info for some other areas, either, including parts of Northeast L.A.
So, while things may not look so hot if you're planning to find a new rental this fall, at least L.A. is still slightly more affordable than New York ($3,160) and San Francisco ($3,530).
