LA rents have surged 4.5 percent since last year
The cost of rent in Los Angeles is up 4.5 percent since last year, according to a new report from Apartment List. The analysis indicates that the median price for a one-bedroom is $1,330, while a two-bedroom rents for $1,710.
If you’re wondering if those numbers are typos, we don’t blame you. When we reported on a similar report just last month, the rental website listed the median price for a one-bedroom at $1,930; two-bedrooms, according to that analysis, fetched a whopping $2,750.
The new estimates may be lower than they were before, but they still show that rents in Los Angeles are pretty darn high. By comparison, the national median rent for a two-bedroom apartment is $1,150.
Prices are also increasing more rapidly in LA than in the rest of the country. Nationally, rental prices rose 2.6 percent last year. The 4.5 percent bump in Los Angeles is also higher than the 3.9 percent average increase across California.