Did you know that, according to Zillow, the current average value of buying a home in Los Angeles is $882,150? It makes sense that over half of Los Angeles residents choose to rent instead. For someone new to the city or looking to change up their current Los Angeles living situation, looking for a rental can be overwhelming but we are here to help. Here’s a quick checklist to help you find the perfect place to live!
Create A Budget
The average cost of a studio apartment in LA is $1,990 and a one-bedroom will cost, on average, $2,639. That being said, you can find apartments, both higher and lower depending on what you can afford and what you’re looking for.
The 30% rule is a popular rule of thumb when determining how much you should pay for rent. The cost of monthly rent should be equivalent to 30% of your monthly income. Don’t forget to budget in security deposits and potentially first and last month rent for when you initially move.
Pick Your Neighborhood
Los Angeles has so many different areas and each is a unique and individual experience. You may choose an area because it’s close to work or (especially if you work from home) to experience a cool neighborhood. Some might fit your budget more than others.
Read more about the wonderful things you can do in DTLA here>>
Get To Searching!
Now you know your budget and where you want to look, the apartment hunt is on! If you’re a fan of vintage buildings with modern renovations, Urban LA Living is a great place to start. Our buildings have classic charm and we have a variety of options in different neighbourhoods starting at $1,200. And did we mention, we even have pet-friendly units?
Once you find a place you like, make sure to schedule a visit to see it in person. Renting in LA is pretty competitive right now so don’t hesitate to apply when you fall in love!
Read more on how you can ways to pick your perfect apartment here>>
As always, feel free to reach out to us via our website or on Instagram as we would be happy to answer any other questions you have about the rental process and help you find a great place to live here in our favourite city!