Average price for 1-bedroom apartment in Downey grows to $1,400
DOWNEY -- The average rental price for a 1-bedroom apartment in Downey rose 2.2% to $1,400 last month, according to figures released today.
The average price for a 2-bedroom unit in Downey remained flat at $1,750.
The Zumper Los Angeles Metro Report analyzed active listings in September across 19 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The California state median was $1,699 last month.
Santa Monica rent grew to $3,350 last month, holding onto its position as the most expensive in the metro. Pasadena, substantially less expensive than Santa Monica, ranked as the second most expensive city with rent at $2,190.
Palmdale rent, though the fastest growing in the metro last month, remained the most affordable by far at $760.
Pomona followed suit as the second priciest city with rent at $1,260. Bellflower barely inched out Pomona with rent at $1,270.
West Covina rent had the largest yearly growth rate in the metro, up 15.4%. Burbank followed closely behind as second with rent climbing 15.3% since this time last year. Norwalk was third with rent up 14.2%.
Today's report came on the heels of statistics released by the Downey Association of Realtors that showed house prices also escalating, with the average home now costing more than $600,000.