Renters looking for apartments in LA’s most rapidly gentrifying neighborhood were in for sticker shock in January.
A survey of all of the apartments listed on Craigslist and actually in Silver Lake showed median rents of $2,195 for 2 bedroom / 1 bath apartments, $1,400 for 1 bed / 1 bath, and a whopping $3,000 for 3 bed / 2 baths. At least the bigger units all come with parking!
Interestingly, there was a distinct lack of studios on the market, with only three available at the end of January (and going for between $900-1100 per month).
What does this mean for renters? With rents rising quickly, renters with good credit and stable jobs should start considering buying a home. After all, at nearly $2,200 per month, it’s not really much cheaper to rent a 2 bedroom place than it would be to buy one.
Interested in learning more? Check out the raw data at kagansblog.com.
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