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Rents Fall in 32 Southern California Cities as Vacancies Rise
Landlords cut asking rents in 32 of 53 cities tracked across Los Angeles and Ventura counties. One-bedroom units in Santa Monica now average $2,215 after a 6 percent decline over the past year.
Jul 12, 4:23 PM·1m read1 source
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Landlords have lowered asking rents in 32 of 53 Southern California cities, with the largest share of reductions occurring in Los Angeles and Ventura counties. An analysis of June data compiled by the Orange County Register showed Santa Monica posted the steepest drop at 6 percent, bringing the median one-bedroom rent to $2,215 and the two-bedroom median to $2,656.
Pasadena recorded a 5 percent decline, with one-bedroom units listed at $2,110 and two-bedroom units near $2,700.
Four percent declines were reported in Oxnard and Monrovia, while San Diego and the Inland Empire each saw reductions in more than half of their cities. Listings on Zillow showed hundreds of one-bedroom apartments in Los Angeles County, including Brentwood and Century City, available below $2,300. In the 20 cities where rents rose, the median one-bedroom price reached $2,146.
The Orange County Register analysis attributed the cuts to a cooling economy and continued apartment construction that has increased supply. Realtor.com data showed the share of California homes taken off the market rose from 3.6 percent in May 2022 to 6.3 percent in May 2026. The same data linked the delistings to economic uncertainty, geopolitical tensions, and elevated mortgage rates.
