The median price for Santa Clarita apartment rents declined slightly over the last month and year, according to the latest report from an online apartment rental marketplace.
ApartmentList.com reported that the median price for two-bedroom apartments in Santa Clarita was $1,900, while the median price for one-bedroom apartments was $1,680 in January.
The price change is a decline of 0.1 percent from one year earlier in January 2016.
Average rents were also 0.9 percent lower from median prices in December 2016, when rents for two-bedroom apartments averaged $1,910 and one-bedroom apartments averaged $1,670, making it the largest drop in median month-to-month prices in the Los Angeles Metro area.
Apartment List Data Scientist Andrew Woo said the trend is a common one during the early part of the year.
“It’s definitely a common seasonal trend to see rents flatten or dip slightly around this time of year, and we would expect to see things start moving back upward over the next couple months,” Apartment List Data Scientist Andrew Woo said.
However, Woo noted that data scientists are seeing this trend of slowed rent growth on a wider scale when comparing nationwide rents.
In the Los Angeles-metro area, Pasadena remained one of the most expensive cities for renters, with median prices for two-bedroom apartments at $2,700 and one-bedroom apartments at $2,090. The prices reflect a year-to-year increase of 3.2 percent.
Rent prices in the city of Los Angeles decreased slightly from December 2016 to January 2017, but increased by 0.5 percent from January 2016.
The median price for two-bedroom apartments for the city of Los Angeles was $2,600 and the median price for one-bedroom apartments was $1,870, making it the second most expensive L.A. metro-areas to rent.
Following Pasadena and Los Angeles, the most expensive Los Angeles metro areas to rent two-bedroom apartments were: Glendale ($2,500), Irvine ($2,450), Huntington Beach ($2,150), Long Beach ($2,000), Orange ($1,950), Santa Clarita and Fullerton (tied at $1,900) and Anaheim ($1,740).
Long Beach saw the largest year-to-year growth with a 6.1 percent increase in rent prices from January 2016, with current prices for two-bedroom apartments at $2,000 and one-bedroom apartments at $1,390.
Westwood was the most expensive neighborhood to rent with the price for two-bedroom apartments averaging $4,200 and one-bedroom apartments averaging $3,160. Overall, rent prices in Westwood grew by 1.6 percent over the past year.
Hollywood saw the second-fastest growing rents in Los Angeles, with prices up 2.1 percent over the past year. For January, the median price for two-bedroom apartments was $3,080 and the median price for one-bedroom apartments was $2,110.
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