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30 Cheap Apartments for rent in Santa Monica, CA

Last updated October 18 at 2:24pm UTC
Results within 5 miles of Santa Monica, CA
10485 National Blvd
Palms
Los Angeles, CA
Updated October 4 at 10:25am UTC
Studio
$1,450
875 Comstock Avenue
Westwood
Los Angeles, CA
Updated September 1 at 3:03am UTC
1 Bedroom
$1,450
Results within 10 miles of Santa Monica, CA
18414 Collins St
18414 W Collins St
Los Angeles, CA
Updated October 17 at 6:24pm UTC
Studio
$1,350
1 Bedroom
$1,595
550 East 97TH Street
Inglewood
Inglewood, CA
Updated October 18 at 2:24pm UTC
1 Bedroom
$1,500
5900 Reseda Blvd
Tarzana
Los Angeles, CA
Updated October 17 at 8:09pm UTC
1 Bedroom
$1,395
407 S Gramercy Place
Mid-Wilshire
Los Angeles, CA
Updated October 17 at 8:07pm UTC
1 Bedroom
$1,600
4823 W 118th Pl
North Hawthorne
Hawthorne, CA
Updated October 15 at 1:37am UTC
1 Bedroom
$1,450
4817 W 118th Pl
North Hawthorne
Hawthorne, CA
Updated October 15 at 1:37am UTC
1 Bedroom
$1,450
4530 S Normandie Ave
Voices of 90037
Los Angeles, CA
Updated October 13 at 11:05am UTC
1 Bedroom
$1,295
17023 Escalon Drive
Encino
Los Angeles, CA
Updated October 13 at 8:51am UTC
1 Bedroom
$1,595
308 40th
Sand Section
Manhattan Beach, CA
Updated October 13 at 5:20am UTC
Studio
$1,600
1220 S Harvard Blvd
Olympic Park
Los Angeles, CA
Updated October 12 at 1:23pm UTC
Studio
$1,450
5139 White Oak Ave
Encino
Los Angeles, CA
Updated October 12 at 1:16pm UTC
1 Bedroom
$1,550
4226 DEGNAN
Leimert Park
Los Angeles, CA
Updated October 11 at 7:41am UTC
1 Bedroom
$1,375
1274 North Crescent Heights Blvd
West Hollywood
Los Angeles, CA
Updated October 10 at 9:48am UTC
1 Bedroom
$1,600
1154 N Gower St
Hollywood
Los Angeles, CA
Updated October 8 at 11:09am UTC
1 Bedroom
$1,650
612 S Fir Avenue
Inglewood
Inglewood, CA
Updated October 6 at 10:58am UTC
1 Bedroom
$1,395
5105 21st Street
Mid City
Los Angeles, CA
Updated October 2 at 12:18pm UTC
1 Bedroom
$1,500
2916 9th Ave
UNNC
Los Angeles, CA
Updated October 1 at 1:58pm UTC
1 Bedroom
$1,350
11908 Truro Ave.
North Hawthorne
Hawthorne, CA
Updated October 1 at 1:58pm UTC
1 Bedroom
$1,200
1740 HAUSER Boulevard
Mid City
Los Angeles, CA
Updated September 29 at 5:45am UTC
1 Bedroom
$1,675

October 2018 Santa Monica Rent Report

Welcome to the October 2018 Santa Monica Rent Report. Santa Monica rents declined over the past month. In this report, we'll evaluate trends in the Santa Monica rental market, including comparisons to cities throughout the metro, state, and nation.

View full Santa Monica Rent Report
Rent Report
Santa Monica

October 2018 Santa Monica Rent Report

Welcome to the October 2018 Santa Monica Rent Report. Santa Monica rents declined over the past month. In this report, we'll evaluate trends in the Santa Monica rental market, including comparisons to cities throughout the metro, state, and nation.

Santa Monica rents decline sharply over the past month

Santa Monica rents have declined 0.7% over the past month, and have decreased moderately by 1.1% in comparison to the same time last year. Currently, median rents in Santa Monica stand at $1,640 for a one-bedroom apartment and $2,100 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in June. Santa Monica's year-over-year rent growth lags the state average of 1.1%, as well as the national average of 0.9%.

Rents rising across the Los Angeles Metro

While rent prices have decreased in Santa Monica over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in all 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 4.4%. The median two-bedroom there costs $2,610, while one-bedrooms go for $2,030.
  • Over the past month, Glendale has seen the biggest rent drop in the metro, with a decline of 0.4%. Median two-bedrooms there cost $1,780, while one-bedrooms go for $1,390.
  • Lancaster has the least expensive rents in the Los Angeles metro, with a two-bedroom median of $1,750; rents fell 0.1% over the past month but rose 2.7% over the past year.
  • Irvine has the most expensive rents of the largest cities in the Los Angeles metro, with a two-bedroom median of $2,710; rents decreased 0.2% over the past month but were up 0.8% over the past year.

Many large cities nationwide show more affordable rents compared to Santa Monica

As rents have fallen moderately in Santa Monica, many large cities nationwide have seen prices increase, in some cases substantially. Compared to most large cities across the country, Santa Monica 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 2.7% in San Jose, 1.1% in San Francisco, and 0.9% in San Diego.
  • Santa Monica's median two-bedroom rent of $2,100 is above the national average of $1,180. Nationwide, rents have grown by 0.9% over the past year compared to the 1.1% decline in Santa Monica.
  • While rents in Santa Monica fell moderately over the past year, many cities nationwide saw increases, including Houston (+2.8%), Phoenix (+2.6%), and Austin (+1.2%).
  • Renters will generally find more expensive prices in Santa Monica than most large cities. For example, Houston has a median 2BR rent of $1,020, where Santa Monica is more than twice that price.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Los Angeles $1,370 $1,760 0.0% 1.0%
Long Beach $1,380 $1,780 0.2% 1.6%
Anaheim $1,660 $2,140 0.6% 3.3%
Santa Ana $1,460 $1,880 0.4% 1.5%
Irvine $2,110 $2,710 -0.2% 0.8%
Glendale $1,390 $1,780 -0.4% 1.4%
Huntington Beach $1,870 $2,410 0.5% 1.3%
Santa Clarita $2,030 $2,610 0.2% 4.4%
Lancaster $1,360 $1,750 -0.1% 2.7%
Palmdale $1,580 $2,030 -0.0% 3.8%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start 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, comparing only units that are available across both time periods 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. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.