Average rent in LA County declined 3.9% since March 2023, report says. Renters say it's not enough
LOS ANGELES (KABC) -- The average rent has dropped in Los Angeles County and increased in Orange County compared to this time last year, according a new report.
But many renters in L.A. County say the price drop is not enough.
According to a March 2024 report from the website ApartmentList.com,
"I think it gets absurd," said renter William Stults. "I don't see how, working a service-industry job, you can make ends meet right now unless you have a roommate."
Stoltz said he would be priced out the rental market if his landlord were not willing to work with him on the rent.
Like many frustrated people still living at home, Iyanna Lawrence is a 23-year-old college grad forced to live with her parents.
"The rent is crazy," she said.
While rent in L.A. County has dropped -- to a median of $1,844 for a one-bedroom apartment -- that cost is still too steep for some people with moderate or low incomes.
"What people are looking for is something more in the $1,000-a-month range, and that's really hard to find," Stults said.
Said Lawrence: "I have a lot of friends who are working currently but it's just not enough to even maintain a lifestyle, like an apartment."
