Santa Monica, CA Rental Market Trends

Highlights

The average rent for an apartment in Santa Monica is $3,703, a 10% increase compared to the previous year, when the average rent was $3,375.

Average Rent in Santa Monica, CA

Last updated Mar 2019
Average Rent Y-o-Y Change Average Apartment Size
$3,703 10% 831 sq. ft.

The average size for a Santa Monica, CA apartment is 831 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Santa Monica, CA Apartment Rent Ranges

  • $1,001-$1,5004%
  • $1,501-$2,0006%
  • > $2,00090%

Santa Monica, CA Rent Trends

Average Rent Jan / 2016 May / 2016 Sept / 2016 Jan / 2017 May / 2017 Sept / 2017 Jan / 2018 May / 2018 Mar / 2019
Santa Monica, CA $3,359 $3,480 $3,323 $3,359 $3,405 $3,375 $3,404 $3,685 $3,703
National $1,290 $1,319 $1,334 $1,329 $1,354 $1,366 $1,366 $1,381 $1,396
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Average Rent in Santa Monica, CA By Neighborhood

The most affordable neighborhoods in Santa Monica are Wilshire - Montana, where the average rent goes for $3,061/month, Ocean Park, where renters pay $3,257/mo on average, and Sunset Park, where the average rent goes for $3,257/mo. If you’re looking for other great deals, check out the listings from Pico ($3,609), Mid-City Santa Monica ($4,009), and Downtown Santa Monica ($4,076), where the asking prices are below the average Santa Monica rent of $3,703/mo.

The most expensive neighborhoods in Santa Monica are Mid-City Santa Monica ($4,009), Downtown Santa Monica ($4,076) and North of Montana ($4,683).

Santa Monica | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Downtown Santa Monica is 2% higher than in Mid-City Santa Monica

$4,076

Downtown Santa Monica rent is 10% higher than Santa Monica average

Average Rent $4,076
$4,009

Mid-City Santa Monica rent is 8% higher than Santa Monica average

Average Rent $4,009

How Does Santa Monica Compare to Nearby Cities

Average Rent Y-o-Y Change
Los Angeles $2,371 7%
Inglewood $1,770 7%
Glendale $2,481 5%
West Hollywood $2,685 5%
Hawthorne $1,423 6%
Long Beach $1,983 6%
Pasadena $2,547 5%
Burbank $2,264 2%
Santa Monica $3,703 10%
Santa Clarita $1,979 6%

For more information about the Santa Monica rental trends, check out our monthly rent report

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Santa Monica apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

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