Los Angeles , California

- Solid Buyer Demand. The average home in Los Angeles sells for .3% over the asking price, typically after around six weeks on the market. 

- High Rent. The median rental rate for a one-bedroom in Los Angeles is currently $2,554, up 3% from this time last year. Two bedrooms are up 6% to $3,734. And three bedrooms are priced around $5,441, which is down 1% from last year. The rental growth rates vary by neighborhood. South Los Angeles, for example, saw one and two-bedroom rentals increase by 28% and 46% respectively.

- High Property Values. The median home sales price is $1,025,000 (as of November 2023). Compared to the national average of $408,459, LA home values are high. Some neighborhoods are more affordable than others. In North Hollywood, for example, the median sales price is right around $800,000.

- Impressive Rates of Appreciation. From November 2018 through November 2023, the median home price in LA increased by 46%. This is an average appreciation rate of 9.2% per year.

- A Large Renter Pool. In LA, 63% of households rent, rather than own. The percentage of renters continues to increase due to high property values and the ingrained rental culture.ac