RadPad: Rental Market Prices In Los Angeles, November 2013 - New York News

RadPad: Rental Market Prices In Los Angeles, November 2013

Posted: Updated:

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.

LA's Top Five Most Expensive Neighborhoods

  • Santa Monica: $2,330
  • Manhattan Beach: $2,250
  • Westwood: $2,250
  • Brentwood: $2,225
  • Marina del Rey: $2,220

LA's Top Five Most Affordable Neighborhoods

  • Crenshaw: $900
  • Koreatown: $1,073
  • Glendale: $1,325
  • Westchester: $1,400
  • Los Feliz: $1,440

Hollywood, Silver Lake and Culver City are HOT right now.
Not only are these three neighborhoods some of the most affordable in Los Angeles, but they're also three of the hottest right areas to live in. New construction is enhancing the quality of apartments and attracting higher end shopping and restaurants. Hollywood is seeing a resurgence of younger, post-college grads who work hard, but like to play hard and demand the city's best nightlife. Silver Lake is a neighborhood of 20-somethings who are trading in expensive apartments in other areas of the city for apartments with more charm and living areas. Culver City is one of those little secrets tucked between Marina del Rey & Mid-Wilshire that's popular with younger families because of the area's strong schools and urban offerings.

Come prepared to secure that place you've been eyeing
Los Angeles is not only the second biggest rental market in the country, but also one of the most competitive among renters. If you want that competitive edge, you need to be prepared. Come to a new apartment, knowing that you will need to fill out a credit and rental application if you want it. Having a copy of your current bank balance or last pay stub with you shows the property owner you're serious about renting. Give the landlord every reason in the world to rent to you.

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 .

  • Local NewsLocal NewsMore>>

  • Mom: 4-year-old banned from doughnut shop

    Mom: 4-year-old banned from doughnut shop

    Thursday, July 24 2014 3:05 PM EDT2014-07-24 19:05:13 GMT
    4-year-old Justin Otero is a curious guy, but his curiosity got him into some trouble at his local Connecticut doughnut shop.
    4-year-old Justin Otero is a curious guy, but his curiosity got him into some trouble at his local Connecticut doughnut shop.
  • Ex-Sen. Lieberman to teach at Yeshiva University

    Ex-Sen. Lieberman to teach at Yeshiva University

    Thursday, July 24 2014 2:56 PM EDT2014-07-24 18:56:06 GMT
    Former U.S. Sen. Joseph Lieberman has been appointed a professor at Yeshiva University for the coming school year. The private university in New York City named him the Joseph Lieberman Chair in Public Policy and Public Service. He'll teach an undergraduate course and give three public lectures on topics ranging from Judaism and public service to the Middle East.
    Former U.S. Sen. Joseph Lieberman has been appointed a professor at Yeshiva University for the coming school year. The private university in New York City named him the Joseph Lieberman Chair in Public Policy and Public Service. He'll teach an undergraduate course and give three public lectures on topics ranging from Judaism and public service to the Middle East.
  • Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Thursday, July 24 2014 2:30 PM EDT2014-07-24 18:30:38 GMT
    Dunkin' Donuts handout photoDunkin' Donuts handout photo
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices