Santa Monica, CA Rental Market Trends

Santa Monica Rent Report: February 2023

Welcome to the Apartment List February 2023 Rent Report for Santa Monica, CA. Currently, the overall median rent in the city stands at $2,182, after falling 0.8% last month. Prices remain up 6.3% year-over-year. Read on to learn more about what’s been happening in the Santa Monica rental market and how it compares to trends throughout the broader Los Angeles metro area and the nation as a whole.

Santa Monica rents are down 0.8% month-over-month and up 6.3% year-over-year

The median rent in Santa Monica fell by 0.8% over the course of January, and has now increased by a total of 6.3% over the past 12 months. Santa Monica’s rent growth over the past year has has outpaced both state (2.3%) and national (3.3%) averages.

Santa Monica rents are 5.6% higher than the metro-wide median

If we expand our view to the wider Los Angeles metro area, the median rent is $2,065 meaning that the median price in Santa Monica ($2,182) is 5.6% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at 1.9%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 23 cities in the Los Angeles metro area that are included in our database. Among them, Marina del Rey is currently the most expensive, with a median rent of $4,707. Long Beach is the metro’s most affordable city, with a median rent of $1,662. The metro's fastest annual rent growth is occurring in Santa Monica (6.3%) while the slowest is in Costa Mesa (-3.4%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Anaheim
$1,856
$2,334
0.3%
4.1%
Brea
$2,122
$2,625
0.7%
4.4%
Burbank
$1,702
$2,336
0.6%
4.7%
Costa Mesa
$2,225
$2,543
-0.6%
-3.4%
Fullerton
$1,878
$2,304
0.7%
3.0%
Glendale
$1,747
$2,325
1.2%
5.9%
Huntington Beach
$2,251
$2,491
-1.9%
1.5%
Irvine
$2,599
$3,146
-2.3%
-3.3%
Laguna Niguel
$2,346
$2,898
0.3%
2.6%
Lake Forest
$2,485
$3,045
-1.2%
-0.2%
Long Beach
$1,469
$1,867
-0.7%
2.0%
Los Angeles
$1,642
$2,168
-0.3%
1.1%
Marina del Rey
$4,452
$5,167
-0.4%
4.7%
Mission Viejo
$2,328
$2,874
-1.0%
1.7%
Newport Beach
$2,600
$3,178
0.0%
0.3%
Orange
$1,869
$2,253
-0.4%
-0.3%
Pasadena
$1,799
$2,326
-1.7%
2.9%
Pomona
$1,477
$1,872
1.1%
-1.2%
Santa Ana
$1,778
$2,220
0.3%
-0.6%
Santa Clarita
$1,793
$2,235
-0.3%
-0.4%
Santa Monica
$2,061
$2,568
-0.8%
6.3%
West Covina
$1,708
$2,258
-1.1%
1.7%
West Hollywood
$1,946
$2,521
1.1%
-1.7%
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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