Santa Monica tops LA rental market (again)
If you’re a Los Angeles renter feeling the pinch of higher prices, it might make you feel better to know that you’re not alone. Then again, maybe not. But consider that it could always be worse. Just ask anyone trying to rent in Santa Monica. The median rent for a one-bedroom apartment in Downtown Santa Monica fetched $3,160 in June of 2015, according to the apartment rental website Thumper.com. That makes Santa Monica by far the most expensive neighborhood in Los Angeles, outpacing nearby Venice ($2,560), Marina Del Rey ($2,520) and ever-changing downtown LA ($2,410) by a wide margin. Those neighborhoods, along with Ocean Park, accounted for the top five most expensive rental neighborhoods in the metro. If there is a silver lining (and that’s arguable)for renters, the market has slowed a bit in the short-term. The median price of a one-bedroom rental in Los Angeles slipped 5.6 percent in May, dropping Los Angeles two spots to the No. 9 most expensive rental market in the country, ranking it behind both Chicago and Miami. As expected, San Francisco, New York, Boston, the Bay Area (San Jose and Oakland) and Washington D.C. give you the least for your rental dollar.
Don't forget to Like me on Facebook.