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Rents are finally falling in Los Angeles. But it's still not enough for many

Terry Castleman, Los Angeles Times on

Published in Home and Consumer News

As Angelenos continue to suffer through a housing crisis, new data suggest that Los Angeles County's notoriously brutal rental market may be cooling while rental prices continue to climb in some of the most populous regions of Northern California.

Rental prices were down 2.5% in Los Angeles County in February 2024 versus the same month a year before, according to data from Apartment List. Experts attribute the decline to a possible softening of demand amid population loss due to a recent exodus from parts of Southern California.

Despite the average drop in rent over the past year, some tenants say finding an affordable rental unit in the county is still a struggle.

Ashley Dingess, 36, thinks the data fails to reflect the reality on the ground. She and her fiancee rent an apartment in North Hollywood and recently considered moving because of noisy neighbors.

"We've been looking and it doesn't seem like rent has gone down whatsoever," Dingess said.

"We pay $2,950 right now, which is actually on the low end," she said. Dingess, a content creator, got a deal during the pandemic on her two-bed, two-bath apartment.

 

This year, their landlord "tried to raise our rent significantly," she said, and her rent did eventually go up about half of the $500 increase the landlord had proposed.

Most buildings charge extra fees for add-ons like pets and parking spots, but not their current building, according to Dingess, making it difficult for her to leave.

"We have arguably some of the worst neighbors possible who party all night," she said. Still, "it's better to just stay put than move."

California's population exodus has been primarily attributed to the state's high housing costs, long commutes, crowds, crime and pollution in urban centers. With the pandemic came an increased ability to work remotely — and avoid the big cities.

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