Santa Monica, CA Rental Market Trends
What is the average rent in Santa Monica?
The average rent for an apartment in Santa Monica is $3,506, a 11% decrease compared to the previous year, when the average rent was $3,926.
Average Rent in Santa Monica, CA
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $3,506 | -11% | 765 sq. ft. |
What is the average apartment size in Santa Monica?
The average size for a Santa Monica, CA apartment is 765 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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-$1,5002%
- $1,501-$2,00010%
- > $2,00088%
Santa Monica, CA Occupied Housing Units
- Renter-occupied Households58%
- Owner-occupied Households41%
26,422 or 58% of the households in Santa Monica, CA are renter-occupied while 18,887 or 41% are owner-occupied.
Santa Monica, CA Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Apr / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Santa Monica, CA | $3,404 | $3,685 | $3,703 | $3,698 | $3,789 | $3,851 | $3,926 | $3,698 | $3,590 | $3,506 |
| National | $1,346 | $1,355 | $1,359 | $1,356 | $1,391 | $1,398 | $1,400 | $1,390 | $1,395 | $1,407 |
Average Rent in Santa Monica, CA By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| North of Montana | $3,977 |
| Downtown Santa Monica | $3,854 |
| Mid-City Santa Monica | $3,799 |
| Pico | $3,510 |
| Ocean Park | $3,083 |
| Sunset Park | $3,083 |
| Wilshire - Montana | $2,894 |
What are the most affordable neighborhoods in Santa Monica?
The most affordable neighborhoods in Santa Monica are Wilshire - Montana, where the average rent goes for $2,894/month, Ocean Park, where renters pay $3,083/mo on average, and Sunset Park, where the average rent goes for $3,083/mo. If you’re looking for other great deals, check out the listings from Pico ($3,510), Mid-City Santa Monica ($3,799), and Downtown Santa Monica ($3,854), where the asking prices are below the average Santa Monica rent of $3,506/mo.
What are the most expensive neighborhoods in Santa Monica?
The most expensive neighborhoods in Santa Monica are Mid-City Santa Monica ($3,799), Downtown Santa Monica ($3,854) and North of Montana ($3,977).
What are the most popular neighborhoods in Santa Monica?
The most popular neighborhood in Santa Monica is Wilshire - Montana, where there are 21 verified RENTCafé listings with an average rent of $2,894. Next up is Mid-City Santa Monica, where apartments go for $3,799/month, followed by Downtown Santa Monica with $3,854 If you’re looking to rent in Santa Monica’s most popular neighborhoods, make sure to also check out North of Montana, where renters pay $3,977 on average, and Ocean Park, where the average monthly rent is $3,083.
Santa Monica | Rent Comparison by Neighborhood
Rent in Downtown Santa Monica is 1% higher than in Mid-City Santa Monica
Downtown Santa Monica rent is 10% higher than Santa Monica average
| Average Rent | $3,854 |
|---|
Mid-City Santa Monica rent is 8% higher than Santa Monica average
| Average Rent | $3,799 |
|---|
How Santa Monica Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Los Angeles | $2,368 | -4% |
| San Francisco | $2,879 | -20% |
| East Bay | $2,273 | -4% |
| San Diego | $2,237 | 1% |
| Palo Alto | $2,913 | -13% |
| Long Beach | $2,135 | 1% |
| Santa Monica | $3,506 | -11% |
| West Hollywood | $2,513 | -8% |
| Glendale | $2,406 | -7% |
| Anaheim | $1,889 | n/a |
| Burbank | $2,271 | -6% |