.

Patch Blog: Should Echo Park Renters Try Highland Park?

Results of our February 2012 rent survey in Highland Park. You might be surprised by how cheap the rents are, at least compared to Silver Lake and Echo Park.

We recently took a deep dive into rents in Highland Park and the answer may surprise you...

Did you know the median asking rent for a 2 bedroom, 1 bath apartment in Highland Park is only $1,100? And almost all of the units in our survey offered parking!

Other interesting facts buried in the data:

  • Median rents for studios came in at $800/month
  • Median rents for 1 bed / 1 bath units came in at $925/month
  • There were very few 3 bedroom units on the market, but these were going for as little as $1,250 and as much as $2,300

It's important to remember that units in pre-1978 buildings are rent controlled. So if you love Highland Park and think it's going to keep getting better and better, it might be worth jumping on a rent controlled 2 bedroom unit now. You might find that you're getting a steal 12 or 24 months from now.

And it's a great time to buy apartment buildings in Highland Park, too. Pay a fair price based on the existing rents and see your cashflow increase dramatically as rents go up.

If you're interested in learning more about Highland Park rents or about buying and owning apartment buildings, check out kagansblog.com!

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

David Fonseca (Editor) February 16, 2012 at 10:21 PM
This blog was originally posted on Echo Park Patch. What do you think?
Evan February 17, 2012 at 04:17 AM
Not a fan at all. This neighborhood does not need anymore low income renters. What they need is more homeowners to buy rehabbed homes.
Ymar Solamo February 17, 2012 at 05:10 PM
I always tell anyone who'll listen that renting in Highland Park, Cypress Park, or Glassell Park is an incredible value, so I'm happy to feel vindicated. My family's first piece of property was a duplex, and I'm glad other people can still buy into that part of the American Dream.
ChickenBoyFan February 21, 2012 at 03:07 PM
I love the future of this place. To see so many new people in Tri-Parks become engaged in restoration and preservation is downright heartwarming. Love the creative spirits. It's a nice blending of cultures, which makes us all Angelenos.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »