Los Angeles County, CA is known for its glitz and glamour, with Hollywood, Beverly Hills, and Malibu all calling this county home. It's no surprise that the cost of living in this area is high, especially when it comes to renting a place to live. But just how expensive are the neighborhoods in Los Angeles County? As an expert in the real estate market, I have analyzed the data and compiled a list of the most expensive neighborhoods to rent in Los Angeles County, CA.
The Methodology
In order to determine the most expensive neighborhoods in Los Angeles County, I looked at data from Zillow, a popular real estate website. Zillow provides information on median rent prices for different neighborhoods in Los Angeles County.I focused on neighborhoods with a population of at least 10,000 people and excluded any neighborhoods with less than 10 rental listings. The data used is from August 2021.
The Top 5 Most Expensive Neighborhoods
Beverly Hills - It's no surprise that Beverly Hills takes the top spot on this list. This iconic neighborhood is known for its luxurious homes and high-end shopping on Rodeo Drive. The median rent price in Beverly Hills is a whopping $8,500 per month.This is more than double the median rent price for Los Angeles County as a whole.
Malibu
- Another well-known neighborhood in Los Angeles County, Malibu is famous for its beautiful beaches and celebrity residents. The median rent price in Malibu is $7,500 per month. This may seem like a bargain compared to Beverly Hills, but it's still significantly higher than the county's median rent price.Santa Monica
- Located on the coast, Santa Monica is a popular tourist destination and a desirable place to live. The median rent price in Santa Monica is $5,500 per month.This neighborhood offers a mix of high-end apartments and more affordable options.
Pacific Palisades
- This neighborhood is known for its stunning views of the Pacific Ocean and its affluent residents. The median rent price in Pacific Palisades is $5,000 per month. This neighborhood offers a suburban feel with easy access to the beach.West Hollywood
- Known for its vibrant nightlife and trendy restaurants, West Hollywood is a popular spot for young professionals. The median rent price in West Hollywood is $4,500 per month.This neighborhood offers a mix of luxury apartments and more affordable options.
The Rest of the List
While the top 5 most expensive neighborhoods in Los Angeles County may not come as a surprise, there are many other neighborhoods that also have high rent prices. Here are the rest of the neighborhoods that made the list:Brentwood - Median rent price: $4,000 per monthCulver City - Median rent price: $3,500 per monthMarina del Rey - Median rent price: $3,500 per monthWestwood - Median rent price: $3,500 per monthSilver Lake - Median rent price: $3,300 per monthStudio City - Median rent price: $3,200 per monthManhattan Beach - Median rent price: $3,000 per monthPlaya Vista - Median rent price: $3,000 per monthRedondo Beach - Median rent price: $3,000 per monthSherman Oaks - Median rent price: $3,000 per monthThe Factors That Affect Rent Prices
So why are these neighborhoods so expensive to rent in? There are a few factors that contribute to high rent prices in Los Angeles County. The first is location. Many of the neighborhoods on this list are located on the coast or have easy access to the beach.This desirable location comes with a higher price tag. The second factor is the type of housing available. Many of these neighborhoods offer luxury apartments and homes with high-end amenities. These types of properties come with a higher price tag than more basic apartments. The third factor is demand. Los Angeles County is a popular place to live, especially for those in the entertainment industry.
This high demand for housing drives up rent prices.
The Impact on Residents
The high cost of living in Los Angeles County can make it difficult for residents to find affordable housing. This is especially true for those who work in industries that don't pay as well as the entertainment industry. Many residents are forced to live outside of these expensive neighborhoods and commute to work, which can add additional expenses and time to their daily routine. However, living in these expensive neighborhoods also comes with its perks. Residents have access to top-notch amenities, beautiful views, and a vibrant community.It's a trade-off that many are willing to make for the lifestyle that these neighborhoods offer.
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