Santa Monica, CA Rental Market Trends

Highlights

The average rent for an apartment in Santa Monica is $3,375, a 2% increase compared to the previous year, when the average rent was $3,323.

Studio apartments in Santa Monica rent for $2,276 a month, while 1-bedroom apartments ask on average $3,252 a month; the average rent for a 2-bedroom apartment is $4,232.

Average Rent in Santa Monica, CA

Last updated Apr 2018

	All rentals	Studio	1 Bed	2 Beds	3 Beds
Average Rent	$3,375	$2,276	$3,252	$4,232	$4,715
Y-o-Y Change	2%	-3%	3%	2%	-16%
Average Apartment Size	780 sq. ft.	461 sq. ft.	729 sq. ft.	1,036 sq. ft.	1,437 sq. ft.

The average size for a Santa Monica apartment is 780 square feet, but this number varies greatly depending on apartment type. A studio averages 461 sq. ft., while a one-bedroom apartment offers a more generous square footage: 729. 2-bedroom apartments in Santa Monica have an average size of 1,036 sq. ft.

Santa Monica, CA Apartment Rent Ranges

$1,001-$1,5004%
$1,501-$2,0003%
> $2,00093%

Santa Monica, CA Rent Trends

Average Rent All rentals		Studio	1 Bed	2 Beds	3 Beds
Apr / 2018	$3,375	$2,276	$3,252	$4,232	$4,715
May / 2017	$3,405	$2,278	$3,278	$4,276	$5,211
Jan / 2017	$3,359	$2,304	$3,239	$4,185	$4,723
Sept / 2016	$3,323	$2,346	$3,168	$4,152	$5,638
May / 2016	$3,480	$2,266	$3,164	$4,674	$6,323
Jan / 2016	$3,359	$2,199	$3,000	$4,587	$5,996
Sept / 2015	$3,342	$2,132	$3,053	$4,463	$6,045
May / 2015	$3,302	$2,113	$3,025	$4,386	$6,062
Jan / 2015	$3,150	$2,025	$2,910	$4,125	$5,928

Average Rent in Santa Monica, CA By Neighborhood

Downtown Santa Monica

$3,451

Mid-City Santa Monica

$3,403

Ocean Park

$3,333

Sunset Park

$3,333

Pico

$3,114

Average Rent
Neighborhood	All rentals	Studio	1 Bed	2 Beds	3 Beds
Pico	$3,114	$1,950	$2,950	$3,618	$4,472
Sunset Park	$3,333	$1,400	$3,073	$4,836	$5,374
Ocean Park	$3,333	$1,400	$3,073	$4,836	$5,374
Mid-City Santa Monica	$3,403	$2,523	$3,352	$3,939	$4,493
Downtown Santa Monica	$3,451	$2,594	$3,418	$3,992	$4,900

The most affordable neighborhoods in Santa Monica are Pico, where the average rent goes for $3,114/month, Ocean Park, where renters pay $3,333/mo on average, and Sunset Park, where the average rent goes for $3,333/mo.

Santa Monica | Rent Comparison by Neighborhood

Rent in Downtown Santa Monica is 1% higher than in Mid-City Santa Monica

$3,451

Downtown Santa Monica rent is 2% higher than Santa Monica average

All rentals	$3,451
Studio	$2,594
1 Bed	$3,418
2 Beds	$3,992
3 Beds	$4,900

$3,403

Mid-City Santa Monica rent is 1% higher than Santa Monica average

All rentals	$3,403
Studio	$2,523
1 Bed	$3,352
2 Beds	$3,939
3 Beds	$4,493

How Does Santa Monica Compare to Nearby Cities

	Average Rent	Y-o-Y Change
Los Angeles	$2,220	5%
Long Beach	$1,875	3%
Santa Monica	$3,375	2%
West Hollywood	$2,546	4%
Glendale	$2,373	3%
Pasadena	$2,425	3%
Inglewood	$1,654	9%
Lancaster	$1,166	12%
Lancaster City	$1,166	12%
Burbank	$2,221	5%

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.