REAL ESTATE NEWS
Los Angeles, CA — Young middle-class travelers need to be pretty rich in order to sleep these days. In the same areas where wealthy folks are paying less than $4,000 per month mortgage to live in multi-million dollar 2,000 Sq Ft Downtown loft condos, Huffpost reports that the average tourists / traveling students drop $1,000 per month to claim a small bunk bed.
Lacking privacy and with limited storage, visitors usually only have one suitcase of belongings. Visitors pay for a bunk in a large room occupied mostly by other young people
These co-living spaces are emerging as an alternative for people who want to live near popular urban centers but are otherwise priced out. These modern-day hostels appeal especially to young professionals who are building their careers, and have paychecks too small (and student debts too large) to buy a house or rent a full room. #housingcrisis #podshare #losangeles
Downtown Rental Prices Mostly Up For September
Rental prices were up a bit in September. According to MLS statistics, the average rent in the Downtown Los Angeles area was down a bit from $3,108 in September 2018 to $3,070 in Sep 2019. The statistics skewed up because of a few pricey luxury lofts that leased for upwards of $25,000 per month. Most renters saw an increase, however, as median rent jumped from $2,750 in Sep 2019 to $2,800 in Sep 2019. The lowest priced rental units climbed from $1,200 in Sep 2018 to $1,375 in Sep 2019. The rich got richer while the poor got poorer: The wealth advantage was apparent as the more expensive rentals dropped a bit in price while the cheaper rents went up substantially.
Here’s a helpful bit of advice for those who need to get a good deal on a rental! Save bundles with hard-to-find rental deals by taking advantage of the little-known L.A. Loft 3 Hour Tour 1-888-381-5588 or visit www.LALoftTour.com
Get a free list of rentals, along with details on the upgraded tour of amazing loft deals. Fill out the online form:
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.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 or seller is already under contract with another broker.