Posted Mar 6, 2015
Cheapest and Most Expensive Los Angeles Neighborhoods
Moving to southern California means that you have your fair share of Los Angeles neighborhoods to choose from— and let’s face it, some are more expensive than others. In the land of Hollywood A-listers, near-perfect weather and nearby beaches, it’s understandable that space comes at a premium.
But fortunately, there are a lot of affordable places in Los Angeles to live– you just have to know where to look. Here’s a little breakdown of the cheapest and most expensive neighborhoods in LA:
The Most Expensive Los Angeles Neighborhoods
Just east of Bel Air lies Beverly Glen, which is located right in the center of LA. There are a lot of natural escapes and Beverly Glen is a close-knit community. But it doesn’t come without a steep price tag, as the median rental rate here is around $4,650 per month.
Nestled between Malibu and Brentwood, Pacific Palisades has always been an affluent community with nearby beaches, family-friendly parks, and a small-town feel. The median rental rate in this area is around $4,000 per month, so those quick trips to the beach come at a price.
Being a resident here means that you will be nestled near celebrity homes, decadent mansions, and first-class country clubs. The cost of living plays every bit the aristocratic part, with median rental rate soaring around $3,595 per month. I have to admit, despite the hefty price tag, this place seems like quite the place to call home.
Here you’ll find an eclectic mix of movie studios, business complexes and high rise buildings. Century City is an active community nestled along bustling Santa Monica Boulevard with excellent shopping as well. The median rental rate in this area is around $3,097 per month.
One of the most charming Los Angeles neighborhoods has to be Venice, though living here can get quite pricey with a median rental rate at $2,999 per month. With its Beat poet history, adorable and colorful boardwalk, excellent surfing conditions, and eclectic drum circles, Venice isn’t your typical affluent neighborhood.
The Cheapest Los Angeles Neighborhoods
Located in the heart of East LA, Montebello is a diverse neighborhood with an average median household income. Montebello feels more like a small town nestled in the sprawl of LA, which is a great sanctuary for renters needing an escape from the hustle and bustle of the city. It’s quite affordable to live in Montebello, with the median rental rate at $1,200 per month.
Crenshaw is a lovely neighborhood located just west of Culver City with beautiful Mid-Century Modern buildings– a perfect LA neighborhood for renters who love rentals with a vintage ’50s and ’60s feel. There is also a diverse population here with people from all walks of life, and you can live here affordably with the median rental rate at around $1,195 per month.
Lincoln Heights is considered one of the oldest neighborhoods in LA, but has seen a recent rejuvenation of young renters moving in. There are many beautiful Victorian mansions in this neighborhood, a rare architectural gem in LA.
Entertainment is easy to come by in Lincoln Heights, with wineries, dance and music festivals, live theater, and a mix of restaurants and shops.
There is also a youthful population here, with a median age of 27, according to the Los Angeles Times, so Lincoln Heights is an excellent place for 20-somethings looking for their first apartment, especially since the median rental rate is around $1,150 per month.
Located five miles south of downtown LA, Vernon has become a vital industrial economic region in LA with about 50,000 residents.
Many of the homes have a classic LA style suburban setting, sprinkled with new developments popping up as the neighborhood continues to attract new and younger residents due to the business development in the area. The median rental rate in Vernon is around $1,119 per month.
Not too far from Vernon lies Huntington Park, a bustling neighborhood known for shopping districts along Pacific Boulevard and proud Latino heritage. The local Salt Lake Park farmers market is one of the highlights of the neighborhood and offers fresh California produce.
Like many other affordable neighborhoods in LA, Huntington Park boasts a youthful population with an average age of 24. The median rental rate here is staggeringly low for LA at $1,100 per month.
There you have it! In the City of Angels, you certainly have your pick of expensive and affordable neighborhoods, all with their own distinct personalities.
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Methodology: Trends represented in the Lovely Rental Market report reflect Q4 2014 rental market data based on the comprehensive set of aggregated rental inventory posted on Lovely between January 2012 and December 2014, and is no longer active.
Prices reported are as indicated upon posting and do not capture the final pricing terms on closed lease agreements. In addition to Lovely’s posting platform, Lovely Pro, Lovely obtains listings by partnering with over 70 external providers to populate its marketplace with rental listings.