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Old 07-24-2014, 09:48 PM
 
Location: Seattle
555 posts, read 803,429 times
Reputation: 520

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What research I've been doing for (future) relocating, all indicate Santa Monica has a high COL; but it seems from the numbers that is being driven heavily by the cost of housing. What is the story on housing in Santa Monica? Is it scarce, or are there other reasons for the cost of rentals &c?
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Old 07-24-2014, 10:44 PM
 
Location: Santa Monica, CA
1,626 posts, read 4,015,084 times
Reputation: 742
Not scarce, there are a lot of rental units. Just high demand (it seems like everybody wants to live in Santa Monica.) Rent control doesn't help though. Generally the high COL in LA is almost entirely due to the high housing costs. When I lived in the inland empire it was more expensive than apartments in downtown Chicago (where I moved from.) So yeah, welcome to California
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Old 07-24-2014, 11:49 PM
 
528 posts, read 867,296 times
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Quote:
Originally Posted by Dunbar42 View Post
Not scarce, there are a lot of rental units. Just high demand (it seems like everybody wants to live in Santa Monica.) Rent control doesn't help though. Generally the high COL in LA is almost entirely due to the high housing costs. When I lived in the inland empire it was more expensive than apartments in downtown Chicago (where I moved from.) So yeah, welcome to California
That's why I am checking out SoCal or L.A right here. Everywhere in this state is expensive, if you're gonna stay, why not go for the whole enchilada and actually GET what you pay for? Rents and housing costs are ridiculous in CA in many spots considering where you live.. like some towns inbetween Tahoe and Sacramento are very high considering theres no urban life or ocean. How much more a month is L.A? Just 150-200 bucks? not much at all I don't think if you get a much better location.
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Old 07-25-2014, 12:03 AM
 
Location: Southern California
4,451 posts, read 6,801,295 times
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Housing cost is high in Santa Monica due to 1) demand for their public schools 2) close to high paying jobs 3) close to the beach 4) close to colleges and universities 5) touristy. To summerize location, location, location.
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Old 07-25-2014, 10:45 AM
 
581 posts, read 921,144 times
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729 Raymond Ave, Santa Monica, CA 90405 - Zillow

Whe I was growing up I had friends who lived in this house in Santa Monica. It's a 864 sf house on a 3216 sf lot valued at $927K. It's located a half a block from Lincoln Blvd. Things are very expensive there.
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Old 07-25-2014, 12:55 PM
 
Location: Santa Monica, CA
1,626 posts, read 4,015,084 times
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Quote:
Originally Posted by GoldCountry80 View Post
How much more a month is L.A? Just 150-200 bucks? not much at all I don't think if you get a much better location.
More than that, my rent is 50% higher in Santa Monica compared to what I was paying in the inland empire.
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Old 07-25-2014, 01:55 PM
 
Location: Placentia, OC
1,487 posts, read 1,788,079 times
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Santa Monica COL is LOL.

I also feel bad for the residents around there. Everytime i go it gets more and more crowded. It's like freaking Times Square.
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Old 07-25-2014, 03:24 PM
 
4,213 posts, read 8,308,483 times
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Quote:
Originally Posted by infinitekid View Post
Santa Monica COL is LOL.

I also feel bad for the residents around there. Everytime i go it gets more and more crowded. It's like freaking Times Square.
Yeah I grew up in Santa Monica and the city has completely changed. In some ways it's nice that it's not a sleepy beach town anymore, but the traffic is horrendous.

Other posters have elaborated well on how Santa Monica COL is high, but it goes beyond the rent. Gas prices are higher. Food - markets and restaurants - are more expensive than other parts of LA county. Everyday items are pricier at the stores here. To pay for the high rent, and knowing most of the residents have more money.

You have to travel to West LA (the neighborhood) to get any decent deals.
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Old 07-26-2014, 12:41 PM
 
4,294 posts, read 4,429,953 times
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I lived on Pico Blvd and Ocean Front in 1991. I paid $500 a month to live like Jack Tripper from 3's Company. Those were the days.
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Old 07-29-2014, 06:29 PM
 
Location: Pasadena, CA
401 posts, read 767,851 times
Reputation: 398
Quote:
Originally Posted by disgruntled la native View Post
Yeah I grew up in Santa Monica and the city has completely changed. In some ways it's nice that it's not a sleepy beach town anymore, but the traffic is horrendous.
New Urbanists and Smart Growthers hold SM up high as a model for urban planning ... they make it sound like everyone will bike/ walk/ transit and go car free. I also saw the planning dept approved some new housing development with zero parking. That doesn't sound like a good idea to me...
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