Los Angeles, CA

Los Angeles rent soars to $3,295 for a two-bedroom apartment, up 17 percent in one year

Beth Torres

You can’t blame Los Angeles’ renters for becoming increasingly frustrated by the high cost of housing. In the last year alone, LA rents have increased by 17 percent with the median rent for a one-bedroom unit now priced at $2,450 a month.

Over the last year, the median rent for a two-bedroom apartment has jumped by $400 a month. You’ll now pay approximately $3,295 a month to rent a two-bedroom in LA.

Fixed income renters and minimum wage workers struggle to pay LA rent

According to a recent nationwide housing report, a minimum wage worker in LA would have to work an astonishing 82 hours a week to afford the rent on a modest one-bedroom apartment in the city.

Some of the hardest hit by rent inflation in LA are those on fixed incomes who rely on Social Security or Supplemental Security Income (SSI) benefits. The average SSI benefit in LA is about $1,002 a month. This puts most rentals out of reach for those dependent on their fixed income benefits.

What cities offer cheaper rent compared to LA?

For many, moving out of Los Angeles and California entirely is becoming a better alternative than trying to eke out an existence in an area where the cost of living is so high. This is becoming an increasingly attractive option for those workers who work remotely and can move and take their jobs with them.

Here are 10 cities where the median rent is at least 50 percent less than LA for a one-bedroom apartment:

  • Akron, OH: $650 a month
  • Wichita, KS: $690 a month
  • Lubbock, TX: $720 a month
  • Shreveport, LA: $740 a month
  • Lexington, KY: $810 a month
  • Oklahoma City, OK: $850 a month
  • Laredo, TX: $850 a month
  • Des Moines, IA: $880 a month
  • Syracuse, NY: $880 a month
  • Tallahassee, FL: $900 a month

Do you find it a struggle to afford rent in LA?

Are you considering leaving the city for a more affordable area? Let us know your thoughts in the comments section. And if you appreciate this content, please give it a thumbs up, follow, and share. Thank you for your support!

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