Study: LA Has Fifth-Highest Rent In The Nation

LOS ANGELES (CBSLA.com) — Apartment rents in Los Angeles are the fifth-highest among U.S. cities, according to a study released this month.

Adobo.com, a website that helps tenants find apartments, found that the average monthly rent for a one-bedroom apartment in L.A. was $2,194 in January. San Francisco had the highest rent in the nation ($3,536), followed by New York ($2,953), San Jose ($2,508) and Boston ($2,423).

San Diego was eighth on the list, with a monthly rent average of $1,727.

According to the study, rent in Los Angeles has fallen an average of 5.5 percent from January 2016, the tenth biggest decline among major U.S. cities.

The average rent in California in 2016 was $1,667, Abodo found. Nationally, the average rent price was $1,001.

To see the full report, click here.

(©2017 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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