76 Luxury Apartments for rent in Santa Monica, CA

Last updated November 23 at 2:38pm UTC
117 FRASER Avenue
Ocean Park
Santa Monica, CA
Updated November 11 at 2:21am UTC
2 Bedrooms
$7,800
702 PALISADES BEACH Road
North of Montana
Santa Monica, CA
Updated October 26 at 2:27am UTC
4 Bedrooms
$45,000
930 California Ave 303
Wilshire-Montana
Santa Monica, CA
Updated November 13 at 1:39am UTC
2 Bedrooms
$5,900
1228 18TH Street
Mid-City
Santa Monica, CA
Updated November 15 at 10:12am UTC
3 Bedrooms
$4,995
301 OCEAN Avenue
North of Montana
Santa Monica, CA
Updated November 23 at 12:02pm UTC
2 Bedrooms
$9,500
910 19th Street 3
Wilshire-Montana
Santa Monica, CA
Updated November 23 at 12:23pm UTC
2 Bedrooms
$5,500
2825 PEARL Street
Sunset Park
Santa Monica, CA
Updated October 26 at 11:53am UTC
2 Bedrooms
$4,500
3111 4TH Street
Ocean Park
Santa Monica, CA
Updated November 23 at 12:02pm UTC
2 Bedrooms
$4,195
301 OCEAN Avenue
North of Montana
Santa Monica, CA
Updated November 23 at 1:53am UTC
2 Bedrooms
$6,000
1018 6TH Street
Wilshire-Montana
Santa Monica, CA
Updated November 10 at 1:42am UTC
3 Bedrooms
$4,450
1358 4TH STREET
Downtown Santa Monica
Santa Monica, CA
Updated November 23 at 11:09am UTC
2 Bedrooms
$8,550
933 21ST Street
Northeast Santa Monica
Santa Monica, CA
Updated September 15 at 2:44am UTC
2 Bedrooms
$4,995
643 PALISADES BEACH Road
North of Montana
Santa Monica, CA
Updated September 1 at 7:09pm UTC
5 Bedrooms
$50,000
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November 2017 Santa Monica Rent Report

Welcome to the November 2017 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

November 2017 Santa Monica Rent Report

Welcome to the November 2017 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 declined significantly over the past month

Santa Monica rents have declined 0.6% over the past month, but have increased slightly by 1.2% in comparison to the same time last year. Currently, median rents in Santa Monica stand at $1,650 for a one-bedroom apartment and $2,120 for a two-bedroom. This is the third straight month that the city has seen rent decreases after an increase in July. Santa Monica's year-over-year rent growth lags the state average of 4.3%, as well as the national average of 2.7%.

Rents rising across the Los Angeles Metro

Throughout the past year, rent increases have been occurring not just in the city of Santa Monica, but across the entire metro. Of the largest 10 cities that we have data for in the Los Angeles metro, 9 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Los Angeles proper has seen rents fall by 0.2% over the past month, the biggest drop in the metro. It also has the least expensive rents in the Los Angeles metro, with a two-bedroom median of $1,730.
  • Garden Grove has seen the fastest rent growth in the metro, with a year-over-year increase of 10.9%. The median two-bedroom there costs $2,100, while one-bedrooms go for $1,640.
  • Irvine has the most expensive rents of the largest cities in the Los Angeles metro, with a two-bedroom median of $2,710; rents grew 0.8% over the past month and 5.4% over the past year.

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

As rents have increased slightly in Santa Monica, large cities nationwide have seen rents grow more quickly. Compared to most large cities across the country, Santa Monica is less affordable for renters.

  • Rents increased significantly in other cities across the state, with California as a whole logging rent growth of 4.3% over the past year. For example, rents have grown by 4.0% in San Diego, 3.0% in San Jose, and 1.8% in San Francisco.
  • Santa Monica's median two-bedroom rent of $2,120 is above the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 1.2% increase in Santa Monica.
  • While Santa Monica's rents rose slightly over the past year, many cities nationwide saw more substantial increases, including Seattle (+4.2%), Phoenix (+4.1%), and Boston (+1.3%).
  • Renters will generally find more expensive prices in Santa Monica than most large cities. For example, Houston has a median 2BR rent of $1,010, 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 $1,350 $1,730 -0.2% 3.9%
Long Beach $1,360 $1,740 0.4% 4.4%
Anaheim $1,620 $2,080 0.4% 5.4%
Santa Ana $1,440 $1,860 0.8% 6.5%
Irvine $2,110 $2,710 0.8% 5.4%
Glendale $1,370 $1,770 0.3% 0.8%
Huntington Beach $1,860 $2,390 0.7% 3.0%
Santa Clarita $1,950 $2,510 0.5% 7.1%
Garden Grove $1,640 $2,100 10.9%
Pasadena $1,610 $2,070 0.4% -0.5%
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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.