Santa Monica, CA Rental Market Trends
Highlights
The average rent for an apartment in Santa Monica is $3,851, a 4% increase compared to the previous year, when the average rent was $3,703.
Average Rent in Santa Monica, CA
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $3,851 | 4% | 775 sq. ft. |
The average size for a Santa Monica, CA apartment is 775 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-$2,0008%
- > $2,00090%
Santa Monica, CA Occupied Housing Units
- Renter-occupied Households59%
- Owner-occupied Households40%
26,983 or 59% of the households in Santa Monica, CA are renter-occupied while 18,504 or 40% are owner-occupied.
Santa Monica, CA Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Mar / 2020 |
|---|---|---|---|---|---|---|---|---|---|
| Santa Monica, CA | $3,359 | $3,405 | $3,375 | $3,404 | $3,685 | $3,703 | $3,698 | $3,789 | $3,851 |
| National | $1,337 | $1,369 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 |
Average Rent in Santa Monica, CA By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Wilshire - Montana | $3,081 |
| Pico | $3,398 |
| Sunset Park | $3,463 |
| Ocean Park | $3,463 |
| Mid-City Santa Monica | $4,147 |
| Downtown Santa Monica | $4,272 |
| North of Montana | $4,658 |
The most affordable neighborhoods in Santa Monica are Wilshire - Montana, where the average rent goes for $3,081/month, Pico, where renters pay $3,398/mo on average, and Ocean Park, where the average rent goes for $3,463/mo. If you’re looking for other great deals, check out the listings from Sunset Park ($3,463), Mid-City Santa Monica ($4,147), and Downtown Santa Monica ($4,272), where the asking prices are below the average Santa Monica rent of $3,851/mo.
The most expensive neighborhoods in Santa Monica are Mid-City Santa Monica ($4,147), Downtown Santa Monica ($4,272) and North of Montana ($4,658).
The most popular neighborhood in Santa Monica is Wilshire - Montana, where there are 22 verified RENTCafé listings with an average rent of $3,081. Next up is Downtown Santa Monica, where apartments go for $4,272/month, followed by Mid-City Santa Monica with $4,147 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 $4,658 on average, and Ocean Park, where the average monthly rent is $3,463.
Santa Monica | Rent Comparison by Neighborhood
Rent in Downtown Santa Monica is 3% higher than in Mid-City Santa Monica
Downtown Santa Monica rent is 11% higher than Santa Monica average
| Average Rent | $4,272 |
|---|
Mid-City Santa Monica rent is 8% higher than Santa Monica average
| Average Rent | $4,147 |
|---|
How Santa Monica Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Los Angeles | $2,545 | 3% |
| San Francisco | $3,700 | 2% |
| San Diego | $2,238 | 4% |
| Long Beach | $2,113 | 5% |
| Oakland | $2,935 | 6% |
| Santa Monica | $3,851 | 4% |
| Thousand Oaks | $2,171 | 2% |
| West Hollywood | $2,737 | 2% |
| Anaheim | $1,872 | 5% |
| Glendale | $2,527 | n/a |
| Inglewood | $1,871 | 6% |
For more information about the Santa Monica rental trends, check out our monthly rent report
Check out California Cities, California Neighborhoods and California Zip Codes for more details on verified listings, including the California Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!