Moving to Los Angeles Summer 2012 (Santa Monica: apartments, rent, neighborhood)

[bestcoast]

Hello All,

I will be moving to Los Angeles from Chicago this summer. I really do not know the area well, and am looking for some advice with regard to finding a place to live. To help: I am a 24 year old male. I will be working in downtown Santa Monica, and would like to live no more than 15-20 minutes from the office. My budget is ideally $2,000-$2,500 per month, but could probably go up to $3,000 per month at most if necessary. Edit: I am looking for a 1 bedroom apartment; I do not like studios.

I have heard good things about Venice, but was hoping to learn a little more about all the areas within my commuting range. My initial reaction is to be closer to the beach rather than inland, but again, I know relatively little.

Lastly, does anyone have an opinion on renting in an institutional building (like Archstone) vs. renting from an individual in this area? Also, is anyone able to comment on the current rent vs. buy decision in this area? Is there a pronounced imbalance like some other areas of the country to the point where it may make sense to buy?

Thanks in advance. I am looking forward to your responses and to moving!

[BRinSM]

i wouldn't buy until you've been here for a while and you know you'll be staying for the long term (5+ years). regarding archstone apartments, they are not all the same. i lived in the marina del rey archstone for a couple of years and found the prices were competitive with other units in the neighborhood. however, the archstone prices in santa monica were very expensive and comparable units could be found for much less.

as for venice, some people like it and others not so much. most of venice is older apartments, many of which are not updated. santa monica tends to be cleaner and better kept compared to venice. certain people prefer the grittiness of venice even with the constant foot traffic from the boardwalk (tourists during the day and homeless at night) and the drug dealers that sell on different street corners at night.