Have rents is LA fallen at all? (Long Beach, Irvine: apartments, rentals) - Los Angeles - California (CA) - City-Data Forum

drummer5000 · 08-31-2009, 11:24 AM

it sure doesn't look like it, but on Craigslist it's impossible to tell as a sub $2k search will have nothing but "4 br house $600 REMODLED" scam posts. I used to live down there but left to Oregon because I had a dog and only make 50k per yr. It was a good move because I saved a bunch of money. But now I want to come back.

At the time I left I would have bought a house in the desert but they were $300k at the time, now they are like $100k, lol. Are there pockets in the LA area (keep in mind im think whole large metro LA not just the city or the west side) that are affordable to rent, it seems buying a house in the far flung areas is the only way to get a sub 1k monthly payment, rents do not look like they have come down much, what say locals?

I miss you SOCAL, this bi bolar weather is driving me crazy.

jbunniii · 08-31-2009, 01:44 PM

What are you looking for, a house or an apartment? There appear to be plenty of 2+ bedroom apartments that accept dogs, for less than $2000/month. I got 50+ Craigslist results posted today alone when I searched for "Hollywood" with those constraints. Only a couple of them looked obviously bogus (e.g., below $1000).

stuffavail · 08-31-2009, 04:19 PM

Drummer
It depends what you are looking for (space, location, amenities...)

You can get a 2 br apt that takes pets in Westwood for just over $2000.

There are many many "bogus" or horrible, illegal rental spaces available all over town. Eg. people's living rooms, rows of bunk beds in a home, ..... the tales are astonshing.

You can get a nice 1/1 in WeHo or Silver Lake for around $1500-1600.
You want a real place with a real lease where you wont have any surprises.

nmnita · 08-31-2009, 07:10 PM

Quote:

Originally Posted by drummer5000

it sure doesn't look like it, but on Craigslist it's impossible to tell as a sub $2k search will have nothing but "4 br house $600 REMODLED" scam posts. I used to live down there but left to Oregon because I had a dog and only make 50k per yr. It was a good move because I saved a bunch of money. But now I want to come back.

At the time I left I would have bought a house in the desert but they were $300k at the time, now they are like $100k, lol. Are there pockets in the LA area (keep in mind im think whole large metro LA not just the city or the west side) that are affordable to rent, it seems buying a house in the far flung areas is the only way to get a sub 1k monthly payment, rents do not look like they have come down much, what say locals?

I miss you SOCAL, this bi bolar weather is driving me crazy.

first of all, even if the property values have gone south, I don't think anything has dropped from 300K to 100K, I can believe 300 to 200 or less, but not 2/3rd. As for rentals, 4 bedroom for $600, what have I been saying? Watch out for Craigslist..

Nita

drshang · 08-31-2009, 07:21 PM

Rents have fallen about 10-20% from last year in the summer, depending on the area. I think they've mostly been flat the last 3-4 months though, but I wouldn't be surprised if they dropped a little more over the winter again, then recover a little bit (but net between the winter drop and spring recovery still a little lower). A lot of it depends on what area you are renting. I know in Pasadena in the more trendy parts the rents have probably dropped in the 10-15% range. In the less trendy parts I think it's more in the 10%, as rents didn't become quite as inflated during the boom. I've heard in places like DTLA and Irvine rents have dropped more due to the economy plus a ton of oversupply.

bhcompy · 08-31-2009, 10:32 PM

Rent has been fairly flat here in the Long Beach/Western OC area

user_id · 09-01-2009, 12:10 AM

Rents in the San Fernando Valley area have declined anywhere from 10~20% over the last 1-2 years. Rents are starting to get closer to people's income, which is good. They still have a bit to go though.

jc76 · 09-01-2009, 09:32 AM

BEAUTIFUL SINGLE APARTMENT FOR RENT/SPECIAL TO MOVE IN! (http://losangeles.craigslist.org/lac/apa/1352982831.html - broken link)

There are low rent places, just gotta dig for them. May not be in the "hip" areas but there's no snow

drummer5000 · 09-01-2009, 01:45 PM

Quote:

Originally Posted by nmnita

first of all, even if the property values have gone south, I don't think anything has dropped from 300K to 100K, I can believe 300 to 200 or less, but not 2/3rd. As for rentals, 4 bedroom for $600, what have I been saying? Watch out for Craigslist..

Nita

go look at victorville, Hesperia, palmdale, lancaster you will find that I am correct. houses for 50k that were 150k etc... it seems the least desirable areas were the markets with most of the froth.

mantismom · 09-01-2009, 07:01 PM

Quote:

Originally Posted by drummer5000

go look at victorville, Hesperia, palmdale, lancaster you will find that I am correct. houses for 50k that were 150k etc... it seems the least desirable areas were the markets with most of the froth.

yep, you are right. I bought in the High desert a year ago. Two years ago everything was over 300k. Prices are VERY afoprdable here in the desert, but it's the desert.