Real Estate
Report: Rent Highest in Santa Monica
Rent is 6 percent higher now than it was before the recession.
Renters in Santa Monica and Marina del Rey pay the highest rent in the county, according to the Los Angeles Times. In general, renters in Los Angeles County pay nearly 6 percent higher now than they did before the recession, the Times reports.
The average rent for Santa Monica-Marina del Rey for the quarter ending on Sept. 30 was $2,690 a month, according to a report from Marcus & Millichap, compare to $1,688 elsewhere in the county the Times reports.
“Rent growth has probably got out front of the general economy and general inflation,” Marcus & Millichap’s vice president Tony Solomon told the Times.
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