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Map: How Rent Prices Changed Across Los Angeles In 2015
Rent prices in most neighborhoods across L.A. increased in 2015, which may help to explain why more than half of Angelenos seem to be struggling to pay rent.The real estate website Zumper analyzed rental prices across L.A. over 2015 and found that overall there was an 11.6% increase for a one bedroom apartment, a trend that we saw earlier in the year as well. And while the majority of neighborhoods saw price increases, a few actually saw a drop. Zumper created a map that breaks down how much of an increase or decrease each neighborhood experienced on average—though, sorry to say, Valley dwellers have been left out once again. And, yes, the map does include areas that are not part of the City of L.A.—like Santa Monica and Beverly Hills.
The neighborhoods that saw the biggest spikes for 2015 included Santa Monica (+17%), Downtown LA (15.7%), and Westwood (+15%), while areas like Westchester, Ladera Heights, and Congress North also saw an above 15% increase. There were also slight increases (5 to 10%) in places like Echo Park, Koreatown and Venice.
The four neighborhoods that saw a drop in price may surprise you. Pacific Palisades dropped 7.2%, though it's still the 12th most expensive hood in the city with the average price of a one bedroom going for $2,320. Bel Air/Beverly Crest saw a decrease of 11.5%, reaching $2,300 for a one bedroom. Culver City saw a dip of 5.2% to $1,930, and Hollywood Hills West dropped 2.2% to $1,820.
Neighborhoods that stayed about the same, or had a slight increase of about 5%, included Mar Vista, Marina Del Rey, South Robertson and West Adams.
And while most of L.A. saw increases, we're still slightly more affordable (when considering the price of a one bedroom) than other cities, according to Zumper. They've put us in 8th place, ahead of San Francisco, New York, Boston, Oakland, D.C., San Jose and Chicago.
Now, we'll have to wait to see what good tidings 2016 has in store for renters.
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