rental trends in Los Angeles

Rental Trends in Los Angeles

With approximately 3.9 million, Los Angeles is called the second-largest city in the United States. As everyone knows that Los Angeles is an expensive place to live, a number of searches were made to find out the rental cost, living cost in Los Angeles, so let’s explore the interesting stats about the cost of living in Los Angeles city. 

If we check the Numbeo cost of living index, which considers the cost for consumer good prices, property prices comparison and rental prices, We found interesting stats of Los Angeles city, for the one-bedroom apartment in the heart of the city the average cost per month is $2,201.38. The cost of a one-bedroom apartment outside the city is $1,663.91 per month, a 3 bedroom apartment in the middle of the city offers $4413.09 rent per month while a 3 bedroom apartment outside the city costs $3112.15 per month. Here you can get an idea about the cost of living in different cities around the world. 

Cost of living index
Image Source: Numbeo

The biggest factor that makes living in Los Angeles more costly is high house rents. The medium cost of the home is around $650,000, which makes homeownership dreams away from the people.  As a result, there are many opportunities for rental homes and apartments. With so many people prefer renting and stay on renting, the demand for the rented houses is more. Even the average rents among the neighborhood of Los Angeles are also high compared to the country’s other cities. 

Zumper – House, Apartment for Rent

People might think that hunting for a rented house or apartment is a time-consuming task but with the Zumper, you can make the task easy. Zumper is used by millions of people to find houses, studios, apartments for rent. With Zumper you can search for rental properties in Los Angeles with a single click. It is one of the best platforms for renters, landlords, agents, and multifamily professionals. Zumper made searching quicker with three steps: apply online, check quality listings and get rented property. It also set the real-time alert along with the features like location filter, price range, pet-friendly properties and more.  

According to Zillow, the average cost for a one-bedroom apartment is $1750 per month, the cost for a two-bedroom apartment is $2,650 per month and the cost for a four-bedroom apartment is $4,600 per month respectively. These costing may vary based on the location of the houses and apartments. 

When you are living in Los Angeles, You will not only get the experience of the lovely Mediterranean climate and you can also save a good amount of money on heating and cooling expenses when compared to the other part of the country. Thanks to the cool beach breezes for the amazing climate of the city.

According to the study, people of Los Angeles expect to pay $30 less than on the utilities compared to the national average cost. Homeowners can install solar panels and also get the money back for generating the extra energy. 

A city which is called Mediterranean climate with low humidity and temperature which does not go above 32-degree celsius, not much rain as well making it as an ideal and most preferred spot to live and even enjoy the vacation.

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