North Hollywood Rent Survey – October 2012

This month, we’re taking a look at North Hollywood rents, mostly because I’m curious about why people are paying such high prices to buy apartment buildings there.

A few things to keep in mind:

  • North Hollywood is huge; there are way more apartments there than in other neighborhoods we’ve looked at previously, so the numbers are more statistically significant
  • Because the Valley was developed relatively recently, almost every unit has parking
  • Generally, the closer a unit is to the Hollywood Hills, the more expensive it is

That said, here are the highlights of our survey:

  • Very few true studios were available. Median rent for studios was $822 / month
  • Median asking rent for one bed / one bath units was $1110 / month
  • Median asking rent for two beds with fewer than two full baths was $1300 / month
  • Median asking for two bed / two baths was $2095 (driven by a lot of vacancy at the very top of the range)

If you’re interested in renting in North Hollywood, it might be worth checking out the NoHo Commons, a new building with lots of vacancy. They’re offering loft-style studio units of 800-950 sq ft for prices ranging from $1480-2056. I was going to link to their website, but it’s down (great marketing!). Here are a few listings.

The fine print: Our survey was based on a search of the apartment listings on Craigslist for the words “North Hollywood” on October 18-20, 2012. We only included listings where an address was available and the property fell within the boundaries of North Hollywood as defined by the LA Times neighborhood mapping project. For the raw data, click here: North Hollywood Rent Survey – Oct. 2012