Los Angeles Rental Market

Ahhh Los Angeles, the City of Angels.

The County of Los Angeles is one of the largest population areas in the United States, with more than 10,000,000 people in the metropolitan area. Its residents are also incredibly diverse, and the income levels run from the richest of the rich in Beverly Hills, to the poorest of the poor in south central Los Angeles. Then, you have young people living over in the beach areas of Santa Monica, Venice Beach, Manhattan Beach, and Hermosa Beach, while families abound in Culver City, Pasadena, Torrence, Alahambra, and Century City.

But as the renter's market tends to be a young one, we’ll concentrate today on some of the beach areas where younger tenants are renting apartments, condos, and houses.

One of the most popular areas for young people, such as college students up to 30-year-old renters, is the Redondo/Hermosa/Manhattan beach areas. Students from USC, UCLA, Loyola Marymount, and other surrounding universities live in these areas, and the nightlife on Pier Ave. in Hermosa is world class. It’s a full party there on Wednesday, Thursday, and Friday nights at clubs, bars, and restaurants. During the day and on weekends, those same students rollerblade, run, bike, and do boot camp on the picture-perfect boardwalk and sands of the beach. If you want the ideal place to live in your younger years, it’s definitely the south beach areas of Los Angeles.

The tougher part of these areas for young professionals is that most of the employment opportunities are not in the beach areas, meaning morning commutes can take half an hour to 1.5 hours to work. But for many, the trip is worth the while for living in a young person's paradise.

Rental rates in Hermosa are reasonable for the income level of Los Angeles. Rent on a shared house or apartment could run from $900 to $1,500 per person per month, plus utilities. And that’s a very fair deal for walking distance to retail, restaurants, the beach, and all the other wonderful amenities that these beach areas can offer. A typical home would be a unit like this, that's one to two blocks from the beach . It’s a great place to visit too. Come in the summer when the fun is in full swing!

North of the Los Angeles Airport (LAX) are the other major beach areas of Los Angeles – Santa Monica and Venice Beach. Venice is well known as a “muscle beach” that you see on many TV shows . It’s a crazy place most days, and you can see people in costumes rollerblading, weight lifters on the beach, and you can also buy all the gift/junk/funky little knick=knacks you could ever want from the vendors. Finally, Santa Monica is just up the road, and the people there are little more reserved than in Venice Beach.

Santa Monica has lots of employment opportunities. Rents on higher-end units here, on average, tend to be a bit more expensive than Hermosa/Redondo. This is also because there are well-paying jobs nearby, and downtown is close, so one potentially has a much shorter commute.

But within Venice and Santa Monica, you can find all kinds of varied rental accommodations from the smallest and most reasonable studio units to the nicest, fanciest, upgraded condominiums and houses.

Any of these areas are wonderful places to live for the young (and young at heart!) and if you’re still thinking about what you should do with and in your life, you might want to move out to the west coast to check it out. Do this before you put down roots down in life because you really should test the waters before you settle into a "normal" and more "grown up" lifestyle.