Moses Kagan on Real Estate

Echo Park rent survey – May 2012

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Just completed our semi-regular rent survey for Echo Park north of the 101, and the results are pretty interesting:

  • Median asking rents for 1 bed / 1 bath apartments was $1,450, up a whopping 26% since February
  • Median asking rents for 2 bed apartments was $1,995, down by 15% compared to February
  • Median asking rents for studios was $1,043, basically unchanged from our February survey
  • The three 3 bed / 2 bath rentals available ranged from $2,590-3,195

A few other observations:

  • As of May 25, there were only 24 units on the market in Echo Park north of the 101. That’s a really small number given Echo Park’s name recognition.
  • Many of the units look to have been renovated recently. It looks like word is (finally!) getting out among property owners that tenants are willing to pay for higher quality product

The fine print: As always, our survey looked at Craigslist postings tagged with the name of the neighborhood (in this case, Echo Park) and cross-checked against the LA Times neighborhood map. In this case, we arbitrarily removed the piece of Echo Park south of the 101, which has very different demographics and rental rates. Here’s the raw data: Echo Park Rent Survey – May 2012


Written by mjkagan

05/28/2012 at 4:03 am

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