Roommate relief as LA sees drastic drop in price for two-bedroom apartments — here’s where to find them

Great news for those in Los Angeles seeking a place to live as sky-high rent for two-bedroom apartments has dropped drastically in the month of March.

Median rental prices in LA for two-bedrooms units dropped a total of 4.9% compared to this same time last year, setting the median rent cost at $3,110, according to the latest national rent report.

The median cost of these units are also down 2.5% compared to just last month, according to Zumper, the company which aggregates data from over one million active listings, and includes a National Rent Index for one and two-bedroom units.

“Our internal inventory data shows that available listings in Los Angeles are up about 4% year-over-year, which is contributing to the downward pressure we’re seeing on two-bedroom rents,” Crystal Chen, a spokesperson for Zumper and author of the national report, told The Post.

Median rental prices in the LA metro area dropped to $2,167 in December, the lowest level Angelenos have seen since January 2022, according to a Los Angeles Times analysis of real estate data. 

The company pointed out that some of the biggest drops occurred in North Hills West, Pacific Palisades, Pico Union, and in the South LA area of West Adams — with rent down a whopping 15% and more. 

Rents in North Hills West for a two-bedroom place have fallen 19.7% compared to last year, while Pacific Palisades is down 18%, Pico Union is 15.74%, and West Adams 15.44%, according to a Post analysis of Zumper data. Median rent prices in these places are between $4,920 and $2,520. 

Other notable areas where rent costs are down for a two-bedroom pad are Lincoln Heights, the Palms, and Westlake — where the median rent prices are down 7% and more from last March. 

Rents in Lincoln Heights have fallen 9.16% compared to last year, while the Palms is down 8.51%, and Westlake 7.45%, according to the Zumper data.  The median rent costs in these areas now sits between $2,360 to $3,010. 

Despite this good news, LA is still ranked as the 8th most expensive rental market in the nation in March, with the median cost of one and two bedroom units at $2,290 and more than $3,000 respectively.