"With the average apartment renting for $4,883, the Westside neighborhood's 90024 ZIP Code ranks third on RENTCafe's list of the 50 priciest ZIP Codes in the nation. Only two areas, both in lower Manhattan, cost more on average."
"That's huge, considering these are already highly expensive markets. It's a response to supply not meeting the demand."
"It's possible to live in Westwood, but you need a huge group and a landlord who allows that. Franco said, recalling memories of friends cramming 10 people into a four-bedroom space."
Westwood has become California's most expensive rental area, with average apartments renting for $4,883 monthly, ranking third nationally behind only two Manhattan neighborhoods. The 90024 ZIP Code offers approximately 998-square-foot, two-bedroom apartments at this price point. Four additional Los Angeles-area neighborhoods rank in the nation's top 50 most expensive ZIP Codes: Mid-Wilshire at $4,391, Playa Vista at $3,808, Santa Monica at $3,682, and Marina Del Rey at $3,642. Rental prices in these areas have grown at least 3% year-over-year, with Mid-Wilshire experiencing the largest increase at 6%. This rapid growth reflects supply failing to meet demand in already expensive markets. UCLA students seeking off-campus housing contribute significantly to Westwood's rental demand, though many find the costs prohibitive and return to on-campus living.
Read at Los Angeles Times
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