January 2020 Los Angeles Rent Report

Welcome to the January 2020 Los Angeles Rent Report. Los Angeles rents remained steady over the past month. In this report, we'll evaluate trends in the Los Angeles rental market, including comparisons to cities throughout the metro, state, and nation.

Los Angeles rents held steady over the past month

Over the past month Los Angeles rents have remained steady. Currently, median rents in Los Angeles stand at $1,369 for a one-bedroom apartment and $1,759 for a two-bedroom. Los Angeles' year-over-year rent growth lags the state average of 1.1%, as well as the national average of 1.4%.

Rents rising across the Los Angeles Metro

While rents have remained steady in the city of Los Angeles throughout the past year, cities across the metro have seen a different trend. Rents have risen in 9 of of the largest 10 cities in the Los Angeles metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

• Santa Clarita has seen the fastest rent growth in the metro, with a year-over-year increase of 4.1%. The median two-bedroom there costs $2,688, while one-bedrooms go for $2,092.
• Over the past year, Glendale is the only city in the metro that has seen rents fall, with a decline of 0.1%. Median two-bedrooms there cost $1,817, while one-bedrooms go for $1,414.
• Irvine has the most expensive rents of the largest cities in the Los Angeles metro, with a two-bedroom median of $2,823; rents decreased 0.3% over the past month but were up 3.9% over the past year.
• Lancaster has the least expensive rents in the Los Angeles metro, with a two-bedroom median of $1,633; rents increased 0.7% over the past month and 1.7% over the past year.

Similar cities nationwide show more affordable rents compared to Los Angeles

Rent growth in Los Angeles has been relatively stable over the past year - some other large cities have seen more substantial increases. Compared to most other large cities across the country, Los Angeles is less affordable for renters.

• Other cities across the state have seen rents slightly increase, with California as a whole logging rent growth of 1.1% over the past year. For example, rents have grown by 1.2% in San Diego, 1.0% in San Jose, and 0.1% in San Francisco.
• Los Angeles' median two-bedroom rent of $1,759 is above the national average of $1,192. Nationwide, rents have grown by 1.4% over the past year compared to the stagnant growth in Los Angeles.
• While rents in Los Angeles remained moderately stable this year, similar cities saw increases, including Phoenix (+3.8%), Austin (+3.1%), and Seattle (+1.8%); note that median 2BR rents in these cities go for $1,099, $1,471, and $1,675 respectively.
• Renters will generally find more expensive prices in Los Angeles than most similar cities. For example, Houston has a median 2BR rent of $1,032, where Los Angeles is more than one-and-a-half times that price.