Monthly Rent Report
Santa Monica Rent Report — May 2023
Asking rents in ZIP 90402, Los Angeles, from 80 listings.
Median 1BR rent in Santa Monica was $3,495 in May 2023, down 11.5% (−$455) from April 2023 and down 57.4% year-over-year. The middle half of 1BR listings asked between $3,495 and $3,495. That puts Santa Monica $1,373 above the Los Angeles citywide 1BR median of $2,122. The month's figures are based on 80 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $4,500 | −$125 (-2.7%) | +$400 (+9.8%) | $3,250 – $4,500 | 3 |
| Studio | $4,500 | −$125 (-2.7%) | +$400 (+9.8%) | $3,250 – $4,500 | 3 |
| 1BR | $3,495 | −$455 (-11.5%) | −$4,705 (-57.4%) | $3,495 – $3,495 | 1 |
| 1BR | $3,950 | $0 (0.0%) | −$4,250 (-51.8%) | $3,559 – $4,419 | 22 |
| 2BR | $4,195 | −$5,355 (-56.1%) | −$8,805 (-67.7%) | $4,195 – $4,195 | 1 |
| 2BR | $8,900 | −$650 (-6.8%) | −$4,100 (-31.5%) | $7,900 – $11,000 | 25 |
| 3BR | $11,000 | −$500 (-4.3%) | +$6,005 (+120.2%) | $9,450 – $12,000 | 15 |
| 3BR | $6,600 | −$4,900 (-42.6%) | +$1,605 (+32.1%) | $6,600 – $6,600 | 1 |
| 4BR | $17,000 | +$3,000 (+21.4%) | +$2,500 (+17.2%) | $17,000 – $17,000 | 6 |
| 4BR | $17,000 | +$3,000 (+21.4%) | +$2,500 (+17.2%) | $17,000 – $17,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Santa Monica vs. Los Angeles — May 2023
| Bedrooms | Santa Monica Median | Los Angeles Citywide Median | Difference |
|---|---|---|---|
| Studio | $4,500 | $1,750 | +$2,750 (+157.1%) |
| Studio | $4,500 | $1,750 | +$2,750 (+157.1%) |
| 1BR | $3,495 | $2,122 | +$1,373 (+64.7%) |
| 1BR | $3,950 | $2,122 | +$1,828 (+86.1%) |
| 2BR | $4,195 | $2,780 | +$1,415 (+50.9%) |
| 2BR | $8,900 | $2,780 | +$6,120 (+220.1%) |
| 3BR | $11,000 | $3,943 | +$7,058 (+179.0%) |
| 3BR | $6,600 | $3,943 | +$2,658 (+67.4%) |
| 4BR | $17,000 | $5,000 | +$12,000 (+240.0%) |
| 4BR | $17,000 | $5,000 | +$12,000 (+240.0%) |
Citywide figure is the median of zip-level medians across 129 Los Angeles zip codes with listings in May 2023.