July / August Big Months for Downtown Rent Increases

Renting is Cool!  But We Won’t Be Hearing That Much Longer.

Renting has been very popular in Downtown Los Angeles for many years now, especially since the big recession of 2008. Many were given the impression by the media that owning a home was a real loser.  Owning a home was a loser even for Downtowners from 2009 to 2011.  But owning has been a huge boon to Downtowners during most other years. The normal trend is expected to continue, as 2015 will mark the last year that anyone says “Renting is Cool.” This is because the properties in the low and medium price ranges are rapidly turning uncool.

8th and Hope Apartments Rent

8th and Hope Apartments

Rental prices have seen the largest increase ever since July. For example, rental prices in 8th and Hope shot up from around $2,500 three months ago, to more than $3,100 for a studio today.

Lease prices in Silver Lake, Hollywood and West Hollywood have increased as well.  Despite a large number of rentals, they are virtually all full, so there is almost nothing for lease in those area.  The best renters can find under $2,200 today is a horribly ugly Koreatown apartment.

higgins-bldg-mkFortunately there have recently been some cool places under $2,000 in Downtown, such as Higgins lofts as well as some unadvertised bargains.

For help finding three times as many amazing lofts for lease in Downtown Los Angeles, visit www.LALoftTour.com

 

 

Get new rentals information such as Megatoys Lofts / Garey Building.  Fill out my online form.

 

 

Copyright © 2015 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not necessarily associated with the owner or management. For more information, contact (213) 478-0499 or visit LAloftLease.com.  Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer, seller or renter is already under contract with another broker.

About Lofts Downtown Los Angeles

Your Loft Sold GUARANTEED or I'll Buy It* Corey Chambers, REALTOR® (213) 880-9910 corey@laloft.org http://www.LAloftBlog.com *by the end of the listing term at a price acceptable to the seller. Realty Source Inc. BRE#01889449
This entry was posted in Apartment Rentals, Lofts Downtown Los Angeles and tagged . Bookmark the permalink.

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