City Description
Los Angeles (also known as LA), in the state of California, is the second most populous city in the United States, with more than 3.9 million residents – only second to New York. It is also, perhaps, most known for being the home of the Hollywood film industry – and its iconic giant Hollywood Sign, situated on the Santa Monica Mountains, overlooking the city.
Los Angeles is synonymous with its unique lifestyle and weather. Like much of California, it exhibits a Mediterranean climate of dry summers and mild, wet winters. It’s a city with the best of both worlds, encompassing rugged mountain sides and sandy beaches. Sprawling metropolitan is a word that describes the cityscape – while there are still high-rises in Downtown LA, low-rise buildings are what characterize the area, in contrast to other cities such as New York.
Famous landmarks in Los Angeles include the:
- Hollywood Sign
- Walt Disney Concert Hall
- Capitol Records Building
- Dolby Theatre
- Getty Center
- Hollywood Boulevard
- Hollywood Bowl
- Dodger Stadium
While there are many aspiring young actors who come to LA to break into the film industry, you don’t have to be one of them to live here. The lifestyle and diverse landscapes of this city have plenty to offer. It is a world-class city that is a bustling hub of activity and an exceptional place to live.
Overall Average and Median Rent in Los Angeles
The overall average rent per month in Los Angeles ranges from $2,465 to $3,438. The overall median rent per month in Los Angeles ranges from $1,873 to $3,350. These values are based on all property types, from studios up to 4 and more bedroom properties. See below for a summary of overall rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| apartments.com | $2,465 | – |
| redfin.com (Jun 2022 data) | $3,438 | – |
| zillow.com | – | $3,045 |
| apartmentlist.com | – | $1,873 |
| renthop.com | – | $3,350 |
Studio Average and Median Rent in Los Angeles
The average rent for a studio per month in Los Angeles ranges from $1,865 to $1,890. The median rent for a studio per month in Los Angeles ranges from $1,685 to $1,835. These values are based on a studio property, which is a self-contained space without separate rooms, except for the bathroom. There is no separate bedroom but usually there is an attached kitchenette. See below for a summary of studio rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| apartments.com | $1,865 | – |
| rentable.co | $1,890 | – |
| zillow.com | – | $1,835 |
| zumper.com | – | $1,722 |
| renthop.com | – | $1,685 |
1 Bedroom Average and Median Rent in Los Angeles
The average rent for a 1 bedroom property per month in Los Angeles ranges from $2,450 to $2,465. The median rent for a 1 bedroom property per month in Los Angeles ranges from $1,644 to $2,411. These values are based on all 1 bedroom property types. These can include 1 bedroom apartments, condos, townhouses and houses. 1 bedroom properties have a separate bedroom, unlike studio apartments. See below for a summary of 1 bedroom rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| apartments.com | $2,465 | – |
| rentable.co | $2,450 | – |
| zillow.com | – | $2,291 |
| apartmentlist.com | – | $1,644 |
| zumper.com | – | $2,411 |
| renthop.com | – | $2,250 |
2 Bedroom Average and Median Rent in Los Angeles
The average rent for a 2 bedroom property per month in Los Angeles ranges from $3,210 to $4,123. The median rent for a 2 bedroom property per month in Los Angeles ranges from $2,171 to $3,300. These values are based on all 2 bedroom property types. These can include 2 bedroom apartments, condos, townhouses and houses. See below for a summary of 2 bedroom rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| apartments.com | $4,123 | – |
| rentable.co | $3,210 | – |
| zillow.com | – | $3,100 |
| apartmentlist.com | – | $2,171 |
| zumper.com | – | $3,195 |
| renthop.com | – | $3,300 |
3 Bedroom Average and Median Rent in Los Angeles
The average rent for a 3 bedroom property per month in Los Angeles ranges from $4,670 to $5,348. The median rent for a 3 bedroom property per month in Los Angeles ranges from $4,495 to $5,000. These values are based on all 3 bedroom property types. These can include 3 bedroom apartments, condos, townhouses and houses. See below for a summary of 3 bedroom rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| apartments.com | $5,348 | – |
| rentable.co | $4,670 | – |
| zillow.com | – | $4,495 |
| zumper.com | – | $4,495 |
| renthop.com | – | $5,000 |
4 or More Bedroom Average and Median Rent in Los Angeles
The average rent for a 4 or more bedroom property per month in Los Angeles is approximately $4,020. The median rent for a 4 or more bedroom property per month in Los Angeles ranges from $5,936 to $48,818. These values are based on all 4 or more bedroom property types. These can include 4 or more bedroom apartments, condos, townhouses and houses. See below for a summary of 4 or more bedroom rental prices per month from each data source we have referred to, for the month of January 2023.
| Source | Average Rent | Median Rent |
| rentable.co | $4,020 | – |
| zillow.com | – | $48,818 |
| zumper.com | – | $5,936 |
| renthop.com | – | $8,995 |
Most Expensive Neighborhoods to Rent in Los Angeles
According to renthop.com, the below are the top 5 most expensive neighborhoods to rent in Los Angeles. The most expensive neighborhood, Bel Air-Beverly Crest, has an average monthly rent of $16,250!
- Bel Air-Beverly Crest
- Pacific Palisades
- Venice
- Brentwood
- Encino
Cheapest Neighborhoods to Rent in Los Angeles
According to rent.com, the below are the most affordable neighborhoods to rent in Los Angeles. 2 bedroom properties, on average, start from only $2,252 per month for the cheapest area. This is compared to the $3,210 to $4,123 for an equivalent property across the whole of Los Angeles.
- Crenshaw
- Greater Valley Glen
- Victor Heights
- Park La Brea
- Northridge East
Rental Trends in Los Angeles
According to redfin.com’s Data Center, their average monthly rent estimate, for all of Los Angeles, was $3,020 in February of 2021. This increased to $3,438 for June of 2022. That’s a 14% increase in a 16 month period.
Is it Cheaper to Buy or Rent in Los Angeles?
While this is a difficult question to answer, if we look purely at the average monthly mortgage payment, based on a down payment of 5%, the previous chart suggests that it is much cheaper to rent. Renting may be cheaper, but a mortgage payment effectively gives you equity in your property – and that is something to consider. However, which decision is better ultimately depends on your life circumstances (e.g. are you a frequent mover?) and the specific property you are living in or buying.
Average vs Median Rent
The average value is generally calculated by summing all available values and dividing it by the total number of values. The median value is usually obtained by ordering all values in ascending order and taking the exact middle position’s value (so that half of the values are higher and half are lower). This is why average and median values can be different.
Furthermore, average and median rental prices will vary depending on where the data is taken from. Some of the sources are based on the total collection of their own rental listings, while others are based on estimates and predictions using their own in-house methodologies and/or US Census data. Rental figures were obtained at the time of writing this article and are always changing.