The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood and city snapshots.
The subject of today’s snapshot is Downtown, Los Angeles, California. Based on our analysis, Los Angeles’ year-over-year average rents had no significant changes in rent prices among all bedroom unit types.
Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Los Angeles 1-3 bedroom rents from September 1, 2020 – September 1, 2021:
As the table shows, 1BR units increased by 1% from last year or $13 more. The 2BR units increased by 1% or $52 more, and the 3BR units increased their rents by 2% or $101 less. As demonstrated by the table, year-over-year performance for all bedroom units in Los Angeles saw no major changes in rent prices.
This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.