Median prices vary wildly across the city
A couple months of declining prices aside, Los Angeles rents are high and likely to climb in coming years. But monthly payments vary quite a bit from neighborhood to neighborhood, as a new price map from Zumper illustrates.
Covering 50 different neighborhoods across central Los Angeles (apologies to residents of the San Fernando Valley and harbor area), the map displays the median price in each area over the final quarter of 2017.
The price is calculated using listings collected on the rental website, which skew a bit toward luxury units. Still, since plenty of people use Zumper and other sites to search for a new place, the prices give a good sense of what prices apartment hunters are finding across the city.
By Zumper’s calculations, the priciest neighborhood in the LA area is Santa Monica, where one-bedroom units go for $3,090 per month. The beach city beat out neighboring Venice, where the median price is $2,900.
On the flip side, the Vermont Square area (listed on the map as Voices of 90037 after the neighborhood council) has the lowest rents, with a median monthly price of $1,090. Florence and Historic South Central aren’t far behind, with rental prices at $1,100 per month in both areas.
Zumper finds that prices in certain neighborhoods have risen dramatically since last quarter. Median rents in Ladera Heights, for instance, jumped up nearly 13 percent to $1,580 per month this quarter. Westchester-Playa del Rey and Brentwood also saw price increases of at least 10 percent.
Median rents dipped in some areas. In Historic South Central, prices fell 8.3 percent; in Glassell Park, they dropped 7.6 percent. Prices there are now hovering at $1,395 per month.
- Report: Los Angeles is the 6th most unaffordable city in the U.S. [Curbed LA]
- The cost of renting in LA dipped again in November [Curbed LA]
- How much more will it cost to rent in LA in two years? [Curbed LA]