Los Angeles, CA Rental Market Trends

Los Angeles Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Los Angeles, CA. Currently, the overall median rent in the city stands at $2,089, roughly the same as last month. Prices remain down 3.4% year-over-year. Read on to learn more about what’s been happening in the Los Angeles rental market and how it compares to trends throughout the broader Los Angeles metro area and the nation as a whole.

Los Angeles rents are flat month-over-month and down 3.4% year-over-year

The median rent in Los Angeles rose by 0.3% over the course of April, and has now decreased by a total of 3.4% over the past 12 months. Los Angeles’s rent growth over the past year has has fallen behind both the state (-0.9%) and national averages (-0.8%).

Los Angeles rent growth in 2024 pacing similar last year

Four months into the year, rents in Los Angeles have risen 1.1%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 0.9%.

April rent growth in Los Angeles ranked #62 among large U.S. cities

Los Angeles rents went up 0.3% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #62. Similar monthly rent growth took place in Henderson, NV (0.3%) and Long Beach, CA (0.3%).

Los Angeles is the #15 most expensive large city in the U.S., with a median rent of $2,089

Citywide, the median rent currently stands at $1,868 for a 1-bedroom apartment and $2,383 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $2,089. That ranks #15 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Los Angeles is 49.6% higher than the national, and is similar to the prices you would find in Washington, DC ($2,145) and Seattle, WA ($2,031).

Los Angeles rents are 4.4% lower than the metro-wide median

If we expand our view to the wider Los Angeles metro area, the median rent is $2,184 meaning that the median price in Los Angeles proper ($2,089) is 4.4% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -1.3%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 26 cities in the Los Angeles metro area that are included in our database. Among them, Calabasas is currently the most expensive, with a median rent of $3,252. Long Beach is the metro’s most affordable city, with a median rent of $1,783. The metro's fastest annual rent growth is occurring in Orange (3.2%) while the slowest is in West Hollywood (-6.3%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Aliso Viejo
$2,557
$3,019
0.5%
1.8%
Anaheim
$1,926
$2,377
0.5%
0.5%
Brea
$2,084
$2,615
0.3%
0.4%
Burbank
$1,803
$2,428
1.1%
1.0%
Calabasas
$2,899
$3,189
0.5%
-2.3%
Costa Mesa
$2,232
$2,576
0.1%
2.3%
Fullerton
$2,049
$2,454
-0.1%
1.3%
Glendale
$1,870
$2,406
0.5%
-0.8%
Huntington Beach
$2,149
$2,427
-0.4%
-0.8%
Irvine
$2,511
$3,079
-0.5%
1.0%
Laguna Niguel
$2,688
$3,051
0.6%
0.5%
Lake Forest
$2,697
$3,221
0.6%
0.5%
Long Beach
$1,593
$1,951
0.3%
0.3%
Los Angeles
$1,868
$2,383
0.3%
-3.4%
Mission Viejo
$2,336
$2,810
0.0%
1.2%
Newport Beach
$2,677
$3,324
-2.2%
-1.4%
Orange
$2,055
$2,420
0.2%
3.2%
Pasadena
$2,094
$2,695
0.6%
0.7%
Pomona
$1,483
$1,871
0.8%
1.5%
Rancho Santa Margarita
$2,370
$2,871
1.1%
2.4%
San Clemente
$2,238
$2,531
1.0%
-0.7%
Santa Ana
$1,914
$2,257
0.3%
-0.3%
Santa Clarita
$1,984
$2,415
0.6%
1.8%
Santa Monica
$2,340
$2,805
-0.6%
-4.7%
West Covina
$1,673
$2,249
0.4%
-0.6%
West Hollywood
$1,961
$2,547
-0.2%
-6.3%
See More

You can also use the map below to explore the latest rent trends in the Los Angeles metropolitan area.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

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