Renting a Home vs. Buying a Home in Los Angeles
May 14 2019
You might as well flush money down the toilet. The authors of the 2018 Casden Multifamily Forecast, a rental market study, estimate that LA renters now pay $2,267 per month on average. They project that number will rise to $2,358 in 2020—an increase of 4 percent.
Rents go up and down. Property values go up and down. Eventually they always seem to go way up, especially as they recover from recession. The home I bought in 1998 for $205,000 just sold for $1,199,000. In contrast, the apartment I rented for $850 in Silverlake in 1994 now rents for $3,800 a month.