Downey rental rates remained flat in July
DOWNEY -- Downey rents have remained flat over the past month, however, they are up moderately by 2.0% year-over-year, according to Apartment List, which released its July rental report Wednesday.
Currently, median rents in Downey stand at $1,400 for a one-bedroom apartment and $1,800 for a two-bedroom. Downey's year-over-year rent growth leads the state average of 1.8%, as well as the national average of 1.2%.
Throughout the past year, rent increases have been occurring not just in the city of Downey, but across the entire metro. Of the largest 10 cities that we have data for in the Los Angeles metro, all of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.
Lancaster has seen the fastest rent growth in the metro, with a year-over-year increase of 4.5%. The median two-bedroom there costs $1,770, while one-bedrooms go for $1,370.
Los Angeles proper has the least expensive rents in the Los Angeles metro, with a two-bedroom median of $1,750; rents grew 0.2% over the past month and 1.3% over the past year.
Irvine has the most expensive rents of the largest cities in the Los Angeles metro, with a two-bedroom median of $2,700; rents increased 0.6% over the past month and 2.8% over the past year.