Downey one-bedroom rents rise to $1,940 per month

An apartment available for rent in Downey. The city’s median asking rent for a one-bedroom apartment rose 2.1% over the past year to $1,940 a month, while two-bedroom rents remained unchanged at $2,500, according to Zumper’s October report.

DOWNEY – Median asking rents for one-bedroom apartments in Downey rose 2.1% over the past year to $1,940 a month, while two-bedroom rents held steady at $2,500, according to a Zumper report released Monday.

The online rental marketplace’s October Los Angeles Metro Report analyzed rental listings that entered the market in September across 29 Southern California cities.

Downey’s one-bedroom median increased 0.5% from the previous month, while its two-bedroom median was unchanged both monthly and annually.

The city ranked 20th among the 29 markets when ordered from most to least expensive for one-bedroom rentals. Its $1,940 median was $139 below the statewide one-bedroom median of $2,079, a difference of about 6.7%.

Downey was one of 14 cities in the report with one-bedroom asking rents below the statewide figure.

Despite remaining below that benchmark, Downey recorded an annual increase while many of the surveyed markets experienced declines. Of the 29 cities, 10 posted annual increases in one-bedroom rents, 17 recorded decreases and two were unchanged.

Nearby Long Beach had a one-bedroom median of $1,800, down 1.6% from the previous month and 2.7% from a year earlier. Its two-bedroom median was $2,400, down 3.6% annually.

Inglewood’s one-bedroom median stood at $1,840, a 3.2% annual decline, while its two-bedroom median was $2,480, unchanged from a year earlier.

Downey’s asking rents were lower than those in Alhambra, where one-bedroom units had a median of $2,020 and two-bedroom units were $2,600. Glendale’s medians were $2,000 and $2,750, respectively.

Across the broader region, Santa Monica remained the most expensive market surveyed for one-bedroom rentals, with a median asking rent of $2,880. Beverly Hills followed at $2,780, and West Hollywood ranked third at $2,580.

Corona had the lowest one-bedroom median at $1,390, followed by Palmdale at $1,510 and Lancaster at $1,580.

San Bernardino recorded the strongest annual growth in one-bedroom rents, increasing 9.7% to $1,590. Torrance followed with a 3.3% increase, while Corona rose 3%.

Oxnard experienced the largest annual decline, with its one-bedroom median falling 16.4% to $2,090. Orange’s median dropped 7.9% to $2,210, and Glendale’s fell 7.8%.

On a monthly basis, Corona recorded the largest one-bedroom decline at 6.1%, followed by Palmdale at 4.4% and West Hollywood at 4.1%.

The report also showed differing trends between apartment sizes. In Los Angeles, the one-bedroom median increased 2.2% annually to $2,300, while the two-bedroom median fell 7% to $2,930.

Zumper calculated the metro report’s medians by grouping rental listings by city. The figures reflect asking rents for units entering the market, rather than rents paid by all existing tenants.