Los Angeles, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Los Angeles, California rental market.
Los Angeles, California
Average Apartment Rent
$2,719
Y-o-Y Change in Average
Apartment Rent
-1.4%
As of July 2024
Compared to a year ago, Los Angeles, California apartments have recorded a -1.4% rent decrease.
Los Angeles, California |Average apartment rent trend
Los Angeles, California| Average apartment rent
Los Angeles, California | Apartment rent ranges
At 75.57%, apartments priced Over $2,000 represent the bulk of Los Angeles, California rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.09%.
Los Angeles, California | Housing tenure**
Renters take up 63% of Los Angeles, California real estate, occupying a total of 886,998 units, while homeowners live in 512,444 properties.
Median number of rooms of renter-occupied housing units**
3.4
Renter median household income**
$57,996
Average household size of renter-occupied housing units**
2.53
Rental vacancy rate**
4.7%
Los Angeles, California | Renter-occupied housing units by no. of bedrooms**
There are 308,715 rentals in Los Angeles, California with 1 bed making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 6,095 units. Overall, the median number of rooms in Los Angeles, California homes for rent is 3.4.
Los Angeles, California |Renter-occupied units by age of householder**
Most condos for rent in Los Angeles, California are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Los Angeles, California | Renter-occupied housing units by family type**
Los Angeles, California | Renter-occupied housing units by the presence of own children**
A total of 449,268 apartments for rent in Los Angeles, California, or 51% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 234,893 units. All in all, the median size of a renter-occupied household in Los Angeles, California is 2.53.
Los Angeles, California | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 38% of the rental market. In contrast, residents with less than a high school degree reside in 21% of the homes for rent in Los Angeles, California.
Los Angeles, California | Renter-occupied units by year structure built**
The highest share of Los Angeles, California apartment rentals, namely 18% or 155,308 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (16%, 137,674 units), and the ones Built 1960 - 1969 (14%, 127,433 units).
Los Angeles, California | Renter-occupied units by year householder moved in**
Median year renter moved into unit2015
Most Los Angeles, California renters (43%) moved in 2010 to 2017, while only 3% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Los Angeles, California condos for rent is 2015.
Los Angeles, California | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of Los Angeles, California renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 16% have No vehicle available.
Los Angeles, California | Means of transportation to work of householders living in renter-occupied housing units**
Los Angeles, California |Geographical mobility in the past year for householders living in renter-occupied housing units**
Los Angeles, California | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Los Angeles, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
