For people planning to rent a place in LA, the first resource they check are the Los Angeles ads because they don’t have to go around checking but they can narrow the list and checkout only those they like. Several months ago, the prices of real estate in LA have declined but regained its high level and it is expected to increase within the next few years. Depending on the neighborhood, the monthly rent can be different. Zumper released a new map illustration that revealed the new changes in the prices.
The map includes 50 neighborhoods located all over Los Angeles but not including the San Fernando Valley as well as the harbor area. From the map, renters can see the average rent in every year based on the last quarter of this year.
The price has been gathered from the rental website listings and they are more geared towards units that are considered in the luxury sector. Many people looking for a place to rent refer to Zumper as well as other online sites because they will be able to get a good idea of the approximate prices of the apartments all over the city.
According to the calculations made by ZUmper, the neighborhood with the priciest properties is located in Santa Monica because a single bedroom apartment can reach $3,090 of monthly rent. It is pricier than Venice where the average monthly rent is at $2,900.
Those two neighborhoods top the list because of their significant variation from the other places in the map. The neighborhood of Pacific Palisaades shows an average monthly rent of $2,690 while Beverly Hills is only $2,685.
On the other hand, the neighborhood with the cheapest rent is Vermont Square with an average monthly rent of $1,090. Coming close are Historic South Central and Florence with $1,100 monthly average rent.
Zumper also noticed that some neighborhoods have experienced a considerable increase in rent during the final quarter such as Ladera Heights, Brentwood and Westchester-Playa del Rey. People looking at Los Angeles ads might have noticed that rents in Ladera Heights are higher compared to the previous quarter. There are also area where the rent went downhill such as Historic South Central and Glassell Park.