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Los Angeles rents are still crazy but the good news is they got slightly less crazy this spring, according to a new survey of rental prices in Los Angeles.
Zumper crunched the numbers and found that median rents for a one bedroom in May actually dipped down 5.6% to a paltry $1,700. Two bedrooms dipped down 3.8% to $2,500. The company also has a graphic showing which neighborhoods are up and down.
The map surveys neighborhoods from the Palisades to downtown (yes, you've been shafted again, Valley dwellers). If you compare it to Zumper's last effort, you will see that some neighborhoods did experience a slight dip. Of note: Pico is $200 cheaper, West Los Angeles is $50 cheaper, and the Hollywood Hills are cheaper. Downtown Santa Monica is still crazy expensive. It is in the top spot with the median bedroom going for $3,160—$360 more than last time we checked! Maybe banning Airbnb will help. 1-bedrooms are $2,560 in Venice and $2,520 in Marina Del Rey. Downtown is more expensive at $2,410 than Bel Air at $2,400 (though we can't imagine Bel Air is full of 1-bedrooms...)
This means that Los Angeles is a slightly more affordable place to live relative to other cities. Zumper puts us behind NYC, San Francisco, Boston, San Jose and DC, which we figured. But we're also now cheaper than Oakland, Chicago and Miami (Florida is happening!).
So take solace that even though rent feels ridiculous here, it could be worse.
