December 5, 2020 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Westside Cities See Significant Rent Decreases Since Start of Pandemic

Rent index down for Santa Monica, Los Angeles, Culver City

By Sam Catanzaro

A recent report shows the average rent in a Westside city has decreased 13 percent since the start of the pandemic in March, a steeper drop than experienced in any Southern California city.

According to a November report from Apartment List, Santa Monica rents have declined “decreased sharply” by 12.8 percent in comparison to the same time last year. Currently, median rents in Santa Monica stand at $1,870 for a one-bedroom apartment and $2,352 for a two-bedroom, the report.

According to the report, Santa Monica rents have declined 3.4 percent over the past month.

“This is the eighth straight month that the city has seen rent decreases after an increase in February,” the report reads.

In addition, Santa Monica’s year-over-year rent growth lags the state average of -5.0 percent, as well as the national average of -1.4 percent.

According to Apartment List, Santa Monica’s annual 12.8 percent rent decline is the steepest decline of any city in Southern California included in the report. Only the Northern California cities of San Francisco (-23.4 percent), Mountain View (-21.1 percent) Sunnyvale (-17.9 percent), Redwood City (-15.4 percent) and San Mateo (-13.2 percent) experienced sharper declines than Santa Monica. 

Other Southern California cities that experienced rent decreases this past year include Burbank (-9.7 percent), Los Angeles (-8 percent), Pasadena (-7.7 percent), West Hollywood (-7.3 percent) and Irvine (-4.8 percent). While the report did not include nearby cities of Beverly Hills and Culver City, other estimates show respective -7 percent and -5 percent decreases experienced the past year in those cities. 

Several cities in the region saw average rents increase over the past year including Dana Point (4.6 percent), Santa Clarita (2.2. percent), Newport Beach (1.7 percent) Anaheim (1.5 percent) and Orange (1.2 percent). 

Related Posts

Estee Lauder Creative Guru Donald Robertson Lists Beautiful Santa Monica Home

December 4, 2020

December 4, 2020

Today on Westside Cribz, New trends for home appliances, Donald Robertson lists his Santa Monica Home, LA rents decrease by...

Attempted Armed Carjacking in Culver City

December 3, 2020

December 3, 2020

Four suspects at large By Chad Winthrop Four suspects connected to an attempted armed carjacking remain at large, Culver City...

LAPD Arrests Suspect In The Murder Of Elderly Man Near 405 Overpass: Culver City Beat – December, 3, 2020

December 3, 2020

December 3, 2020

Local news and culture in under 5 minutes. * LAPD Arrests Suspect In The Murder Of Elderly Man Near 405...

Edify TV: Culver City Food Hall Opens

December 3, 2020

December 3, 2020

A highly-anticipated food destination has opened in Culver City in a historic building. Learn more in this video made possible...

Edify TV: Restaurant Grant Program Not Enough?

December 3, 2020

December 3, 2020

To help struggling restaurants, LA County is rolling out a grant program. But with most restaurants not qualifying, will it...

Iconic Westside Deli Reopens

December 3, 2020

December 3, 2020

Beverly Hills staple Nate ‘n Al’s reopens By Kerry Slater A longtime Westside deli has reopened after shutting down this...

Eflyn Launches Shopify Self Serve Checkout Kiosk to Help Businesses Stay Open With Contactless Purchasing

December 2, 2020

December 2, 2020

Digital display and software company Eflyn rolls out Shopify kiosk to help local businesses stay open with contactless purchasing. By...

Video: Local Gym Owners File Lawsuit

December 1, 2020

December 1, 2020

Local gym owners are seeking a relaxation of health orders aimed at stemming the spread of the coronavirus in a...

Supervisor Kuehl Dines out in Santa Monica After Voting to Shut Down Restaurants

December 1, 2020

December 1, 2020

LA County Supervisor dines at Il Forno in Santa Monica last Tuesday By Sam Catanzaro LA County Supervisor Sheila Kuehl,...

Santa & Frosty are Zooming to Culver City!

December 1, 2020

December 1, 2020

From the City of Culver City The City of Culver City’s Parks, Recreation and Community Services Department would like to bring some of the...

Jeopardy! Begins Production Again With New Host: Culver City Beat – November, 30, 2020

November 30, 2020

November 30, 2020

Local news and culture in under 5 minutes. * Jeopardy! Begins Production Again With New Host * George Gascon Can...

Edify TV: Budget Cuts Leading to More Beach Pollution

November 30, 2020

November 30, 2020

Local budget cuts are leading to more trash and pollution on Westside beaches according to environmental experts. Learn more in...

Culver City Education Foundation’s Giving Tuesday

November 30, 2020

November 30, 2020

From Culver City Unified School District GivingTuesday is the perfect opportunity to support the Culver City Education Foundation (CCEF) through its Annual Campaign....

Study Shows Corporate Landlords Sought to Profit During Last Economic Crisis

November 29, 2020

November 29, 2020

By Les Dunseith/UCLA A research brief by the UCLA Luskin Institute on Inequality and Democracy draws fresh attention to the manner in which corporate...

Framework of Culver City Amzaon Studios Nearly Complete

November 29, 2020

November 29, 2020

530,000 square feet project slated for completion in 2021 By Chad Winthrop A half-a-million square-foot project in Culver City that...