Los Angeles County’s rental market was already tight before the January wildfires destroyed thousands of homes in Pasadena, Altadena, and the Pacific Palisades. In the months that followed, the region has become even more cutthroat for would-be renters.
A recent RentCafe analysis deemed Eastern L.A. County the most competitive rental market in California and the fourth most competitive nationwide. The area includes parts of L.A., Long Beach, Pasadena, Pomona, and Downey.
With many residents displaced and demand for housing on the rise, competition for available rentals intensified, leading to increases across all metrics analyzed.
Specifically, lease renewals jumped 5.1% over the past year — one of the highest increases nationally — reaching 57.8% and leaving fewer than 4% of units available. New apartments in Los Angeles remain limited, with supply growing just 0.3% after a stretch with no new openings.
As a result, renters per unit rose from 14 to 18, and vacancies now fill in 42 days, three days faster than last year.
Apartment hunters in the Western part of the county — which includes Santa Monica, Inglewood, Culver City, and Marina Del Rey — are having an easier time finding places to lease. That’s partly due to increased building in the area.
According to RentCafe, Silicon Valley is the second most competitive region for renters in California, followed by San Diego. Silicon Valley and San Diego ranked 13th and 20th for rent competitiveness nationwide. Miami, Florida was ranked the most competitive rental market in America.
The future of rent competitiveness in Eastern L.A. will largely depend on how rebuilding efforts unfold. There are already complaints about red tape hindering the recovery process.
Read more about the most competitive rental markets here.
List and data were compiled by RentCafe and may not reflect statistics on all areas.