RadPad: Rental Market Prices In Los Angeles, October 2013

RadPad: Rental Market Prices In Los Angeles, October 2013

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Jonathan Eppers, CEO of RadPad Jonathan Eppers, CEO of RadPad

The rental market in Los Angeles is constantly changing, and Jonathan Eppers, CEO of RadPad, joined Studio 11 LA to talk about fall rental trends and what potential renters need to know to secure the best deal and location for their new apartment. RadPad is a local photo-based mobile rental marketplace that uses curated photos to help apartment hunters search for their right apartment.

Eppers will be joining us on a monthly basis to give us updated information as the rental market changes.

The graphic displayed in this story reveals the most expensive/affordable neighborhoods in the city, along with new insights apartment hunters need to know before starting an apartment hunt.

The figures reflect the cost of one-bedroom apartments in several counties in Southern California.

Los Angeles County

  • Santa Monica: $2,431
  • West Hollywood: $1,811
  • Studio City: $1,680

Orange County

  • Irvine: $1,988
  • Costa Mesa: $1,688
  • Huntington Beach: $1,437

San Bernardino County

  • Rancho Cucamonga: $1,380
  • Loma Linda: $1,118
  • Fontana: $1,000

Riverside County

  • Corona: $1,160
  • Palm Springs: $857
  • Hemet: $775

Here are some other tips from Eppers: 

  • The rental market is seasonal. We just came out of the hottest part of the rental season and are coming into the slowest part of the rental season. Many of us found a place this summer, so there aren't as many people looking now. The fall is a slower time to look for a place, so renters have an advantage because there's less people out there looking.
  • Rents are rising. RadPad expects rent to continue to rise over the next two years. It's a great time to move into a rent-controlled area – Santa Monica, West Hollywood, Beverly Hills, etc.
  • Be flexible. On RadPad, consider neighborhoods in surrounding neighborhoods of areas that you are interested in. For example, if you're looking in West Hollywood, consider Hollywood, rent is a little cheaper there.

Credit for the data on the infographic goes to RadPadRentMetrics & USC Casden MultiFamily Report .

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