The summer high season brought price increases in the rental market. In Los Angeles, the rise was 4 percent, with the price of one-bedroom apartments up 2 percent from the previous month. The city of California is facing serious housing problems: young workers, who are not just looking for a job in the film industry, are flocking to the already heavily overcrowded city. In addition, the pay gap is widening.
Finding the right apartment has proven to be an increasingly difficult task in recent years, not only in Los Angeles but throughout the country. The millennium generation, in particular, is facing the prospect of starting a family, but members of Generation Z, who are now entering the labor market, are also increasingly preoccupied with the question of where they will live and whether they will ever have the opportunity to buy their own home.
Zumper, one of the largest privately owned rental platforms on the continent, helps you find and, of course, find. The company has already helped nearly 90 million people find the right home, and Forbes magazine named the company the best startup employer in 2021.
In Los Angeles, a one-bedroom apartment has an average monthly rent of $ 2,100, according to Zumper research, a two-bedroom apartment costs $ 2,914 a month, and studio apartments pay an average of $ 1,525 per tenant. Despite the increase in prices on the supply side, prices were higher in the rental market, and current rents are still below the peak seen in 2018. However, statistics show that prices were significantly affected by the coronavirus epidemic.
However, New York boasts some of the country’s most expensive rentals in August after it left San Francisco, which came in second, followed by Boston. Los Angeles, however, is sixth on the list of the latest apartment rentals.
Ideally, you should leave 30 days to find the right apartment so we won’t decide under pressure. At the same time, we need to be aware of our expectations, all the knowledge of the city, and we also need to know our financial situation. It is also important to decide in advance whether we are looking for a furnished or unfurnished property.
More affordable parts of the city include Pacoima, where the average rent is $ 800 a month, North Hill West, where you pay $ 1,150 a month, and LA32, where residents pay an average of $ 1,395 in rent. Interestingly, the most popular districts are the Wilshire Center – Koreatown, Downtown Los Angeles, and the Mid-City West.
Zumper currently offers more than 6,000 potential sublets in Los Angeles, and thanks to the app and web interface, tenant data, bank statements, and other necessary parameters can be uploaded digitally, while you can easily enter the terms you need for a sublet. Perhaps one of the most important constant issues with sublets is pets, fortunately, there is a separate filter available for this. For me, this has always been one of the hardest points in finding an apartment to see if you can take dogs and cats as well.
Interestingly, four-room apartment prices rose much more, 4 percent, year-on-year, with an average monthly rent of $ 6,900, and about 500 properties in Los Angeles for rent with 4 rooms.