While the Los Angeles housing market is best known for million-dollar mansions, data collected by Trulia points to the fact that renting isn’t exactly an affordable option either.
Sure, LA is no San Francisco, where more than 90 percent of one-bedroom apartments cost over $2,000. Boston and Washington D.C. also had more unaffordable renters markets than LA according to Trulia’s metrics with the median rent for a one bedroom costing $2,300 and $1,875 respectively (the median in San Francisco is $3,200).
The survey also split New York into its five boroughs to find that the median cost to rent a one bedroom in Manhattan is $3,250. In the Bronx, however, only 3 percent of one bedrooms cost more than $2,000.
So in comparison, LA actually isn’t that terrible (although, thanks to a certain earthquake retrofitting bill, rates for a lot of people are likely only going to go up). According to the data, 35.9 percent of one bedrooms in Los Angeles cost more than $2,000. The average one bedroom in the area is $1,750. Downtown has the highest concentration of expensive one bedrooms with a median price of $2,550. For two bedrooms, however, Century City is the most expensive with the median rent costing $3,985.
Feeling overwhelmed by numbers? Check out Trulia's handy infographics and follow the links below for interactive maps:
Trulia
Trulia