So How Much Does It Cost To Rent An Apartment In L.A. This Month?
The last time we looked at Zumper's seasonal (summer) rental report, the median cost to rent a 1-bedroom apartment in Los Angeles was $1,970 monthly. In their fall report, Zumper has found that the median price of a 1-bedroom apartment has dropped a little bit to $1,920 per month. The going rate for a 2-bedroom unit in the city is $2,970.
On a month to month basis, the price of 1-bedroom units in metro L.A. actually dropped between August and September by 3.5 percent. Compared to this time last year, however, the market rate for new leases on 1-bedrooms is still up nearly 5 percent from this time last year. For two bedrooms, the going rate is 11.9 percent higher than last year.
As always, rents are highest in the coastal communities. A median 1-bedroom unit in Santa Monica will set you back $3,000 monthly for residence. Venice ($2,850 per month) and Marina Del Rey ($2,760 per month) aren't much less expensive, nor are the Palisades, where you can expect to pay $2,600 monthly for a 1-bedroom.
Trying to extrapolate larger trends from the data becomes a bit more challenging. Where some neighborhoods, like Mid City ($1,620 per month), Rampart Village ($1,590 per month) and South Robertson ($1,850 per month) saw pretty notable rate increases, rent-rates dropped in other spots like Pico Union ($1,275 per month), West Hollywood ($2,250 per month) and even downtown L.A. ($2,450 per month).
Overall, it's all just very expensive. Nationwide, Zumper reports that the L.A. market is the seventh most expensive. San Francisco, where a typical 1-bedroom unit costs $3,440 monthly, is the most expensive rental market in the country. New York follows closely, tailed by Boston, Washington D.C.. San Jose and Oakland take the fifth and sixth spots, followed by L.A.
Just like last time, however, Zumper didn't extend the map out to other areas of the L.A. metro area (though they tell us they're working on a better map for next time). Rents in both the San Gabriel and San Fernando Valley are usually slightly less extortionary than those found west of La Cienega, and you can (still!) find decent 1-bedroom listings in North Hollywood for less than $1,300 monthly.
Happy apartment hunting! Houses will run you more than $5,000 each month.