Rental market snapshot for Echo Park, Los Angeles
Echo Park rental market summary
The rental market in Echo Park, California is showing signs of growth. In July 2023, there were 201 new listings, a significant increase from the previous month. The median rent in July 2023 was $2,864, a 1.2% increase from the previous month and a 10.4% increase from July 2022. This suggests that the rental market in Echo Park is becoming more competitive, with more people looking to rent in the area.
The increasing rent prices in Echo Park are indicative of a strong rental market. With more people looking to rent in the area, landlords are able to raise prices and demand higher rents. This is beneficial for landlords, as they can make more money from their properties. However, it can be difficult for renters to find affordable housing in the area, as prices continue to rise.
Median rent for all residential properties in Echo Park
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The most expensive listings and top trending buildings in Echo Park
Most Expensive Listings
Address | Rent Price | Bed / Bath |
---|---|---|
1851 Lobdell Pl | $5,995 | 2 / 2.0 |
1750 Glendale Blvd | $5,800 | 2 / 2.0 |
705 Coronel St | $5,750 | 3 / 3.0 |
1807 Montana St | $5,700 | 2 / 2.0 |
2016 Lake Shore Ave | $5,500 | 2 / 2.0 |
Top Trending Buildings
building name | avg rent price |
---|---|
Beach Front Property Management | $2,733 |
City View | $2,539 |
Screenland Development Group LLC | $2,495 |
Greystar Real Estate Partners LLC | $2,360 |
Lion Real Estate Group | $2,344 |
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Bedroom Breakdown in Echo Park
Echo Park neighborhood apartments rents
The rental market for studios in Echo Park, California is showing signs of growth. In July 2023, there were 24 new studio listings, representing a 5.4% increase in median rent from June 2023. The median rent for studios in July 2023 was $2,680, which is significantly higher than the median rent of $2,542 in June 2023. This indicates that the rental market for studios in Echo Park is becoming increasingly competitive, and renters should expect to pay more for their desired studio space.
The rental market for 1-bedroom apartments in Echo Park, California is showing signs of growth. In July 2023, there were 15 new 1-bedroom listings, which is a 5.3% increase from the previous month. The median rent for 1-bedroom apartments in July 2023 was $2,779, which is a 5.3% decrease from the median rent in June 2023. This indicates that the rental market is becoming more competitive, with more options available for renters.
The rental market for 2-bedroom apartments in Echo Park, California is showing signs of improvement. In July 2023, there were 10 new 2-bedroom listings, which is a positive sign for the market. Additionally, the median rent for 2-bedroom apartments decreased by 7.1% from June 2023 to July 2023, from $4,487 to $4,168. This indicates that the rental market is becoming more affordable for tenants.