• Los Angeles rents experienced a 0.9 percent decrease over the past month.
  • Los Angeles and Pasadena are nearly tied for the spot of most expensive city in the Los Angeles metro.
  • Orange experienced the highest year-over-year rent growth in the Los Angeles metro.
  • Westwood continues to be Los Angeles' most expensive neighborhood.

Last week, Apartment List released its May rent report for Los Angeles. Los Angeles rents continued their downward trend over the past month, with year-over-year growth to be lower than that of California overall.

L.A. rents growing slower than rest of California

LA Line May 2016

Los Angeles rents experienced a 0.9 percent decrease over the past month. This resulted in Los Angeles year-over-year rent growth to be at a 4.1 percent increase over last year — 0.3 percent less than California’s year-over-year rent growth overall (4.4 percent). Median rent prices for a two-bedroom apartment in Los Angeles are at $2,610, and median prices for a one-bedroom are at $1,190.

L.A. and Pasadena nearly tied in rent prices

LA Rents Metro May 2016

At median rent prices of $2,610 and $2,600 for a two-bedroom apartment, Los Angeles and Pasadena are nearly tied for the spot of most expensive city in the Los Angeles metro. One-bedrooms in Los Angeles rent at a median price of $1,190, while one-bedrooms in Pasadena are at $2,100.

Orange experienced highest rent growth in L.A. metro

LA Growth Metro May 2016

Orange experienced the highest year-over-year rent growth in the Los Angeles metro, with rents 11 percent higher than they were in April 2015. Long Beach and Anaheim followed close behind at increases of 9.8 percent and 9.1 percent, respectively. Two-bedrooms in Orange are renting for $1,830, while one-bedrooms are at $1,490.

Westwood is L.A.’s most expensive neighborhood

LA Rents Neighborhood May 2016

Westwood continues to be Los Angeles’ most expensive neighborhood, with median two-bedroom rents at $3,970 and median one-bedroom rents at $2,750. Westwood rents experienced an average increase of 1.2 percent over the past month.

Sherman Oaks rent is growing fast

LA Growth Neighborhood May 2016

Out of all Los Angeles neighborhoods, Sherman Oaks has experienced the greatest year-over-year rent growth, with rents 12.6 percent higher than they were in April 2015. Although Mid-Wilshire was last month’s fastest growing neighborhood in terms of rent increases, it placed fourth this month with rents 7.2 percent higher than they were last year. Two-bedrooms in Sherman Oaks are currently renting at the median price of$2,360, and one-bedrooms are at $1,780.

For methodology and data for other neighborhoods in Los Angeles, see Apartment List’s City Report.

Yuki Graviet Knapp is a Content Marketing Associate with the Growth Team at Apartment List and is a resident of the Bay Area. 

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
EXTENDED: We're giving you one extra day to scoop your ICNY ticket. Prices go up at midnight. Don't wait.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription