How’s the Los Angeles rental market looking as we come out of this long, hot winter? Still dire, according to Zumper. Rents in March weren’t too far past the rents in February, but year over year they’ve made huge jumps. Meanwhile, the city as a whole has zoomed past Chicago to become the seventh most expensive rental market in the US (keep in mind that’s just rental prices; affordability is far lower, since LA wages are low and other costs are high).
One-bedrooms in Los Angeles are now averaging $1,900 a month, which is flat over February, but 8 percent higher than last year. Two-bedrooms are averaging a whopping $2,760, up 2.2 percent over last month and 10.4 percent over last year.
Santa Monica remains the reigning champ of expensiveness, with a median rent of $3,000 for a one-bedroom; nearby Venice and Marina del Rey are not far behind. The cheap rents are as always in southeast and the not completely fashionable parts of Northeast LA: you can still rent for under $1,000 in the University Park area Central-Alameda, and the Glassell Park has a median of $1,290.
Here’s the whole heatmap: