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Silver Lake Rents Through the Roof (Blog)

Our survey of rents in Silver Lake in January turned up a surprise: The median 2 bedroom / 1 bath apartment was asking $2195 per month! Get the details on the Silver Lake rental market in this post.

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.

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.

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