For the 2nd year running, Westwood is California’s most expensive place to rent an apartment. In the posh neighborhood’s 90024 zip, renters pay an average of $4,944/mo., according to a new study from RentCafe, a listing service for apartments and homes. That’s a 4.1% leap compared with 2018. Westwood rent ranks 4th in the country behind 3 areas in Manhattan. Westwood is pricier than everywhere in the Bay Area. It’s also nearly $50 higher per-month than the second-priciest spot in CA: West Hollywood’s 90048 zip, where the average is $4,896/mo.
In addition to Westwood’s increasing rents, other areas in L.A. showed single-digit increases over last year like Culver City’s 90232 zip at $4,118/mo., Marina del Rey’s 90292 at $3,804, Santa Monica’s 90401 at $3,787, and Playa Vista’s 90094 at $3,735.
With these numbers in mind, renters should be considering today’s record-low mortgage interest rates—and FHA home loans of up to 94% of a purchase price—and make the effort to get out from under ever-increasing monthlies that are making corporations and “Aunt Sylvia” a fortune off of rental income.