SOURCE: WestsideRentals.com

June 04, 2007 17:42 ET

Los Angeles Apartments & Rentals Rent Survey: Hollywood & Melrose Area May 2007

This Survey Report Contains Statistical and Sample Vacancy and Rental Housing Market Information for Los Angeles Rentals, Including Los Angeles Apartments, Los Angeles Condos, Los Angeles Guest Houses and Los Angeles Homes for Rent; Specific Areas Covered in This Survey Include Hollywood Hills, Melrose, Beverly Hills Adj, Hollywood, and West Hollywood

SANTA MONICA, CA--(Marketwire - June 4, 2007) - Since 1996 WestsideRentals.com has successfully connected hundreds of thousands of quality tenants with landlords and roommates. WestsideRentals.com is the definitive location for owners and managers of Los Angeles rentals to locate quality tenants searching for apartments in Los Angeles, condos in Los Angeles, houses for rent in Los Angeles, and guest houses for rent in Los Angeles. Initially started in Santa Monica, due to overwhelming demand from landlords in need of quality tenants to fill their vacancies, WestsideRentals.com has grown to cover most of Southern California. As a service to the rental community we regularly publish rent surveys to assist in making the rental market more transparent and efficient for all of its participants.

For May 2007, the average listed rent price of all listed rentals in these areas was $2,129.31, representing a 5.4% increase over two months ago. This was a general price increase across all rental types, with about 22% of listings in the Hollywood/Melrose region being houses, duplexes, or triplexes, as opposed to apartments, condos, or townhouses. This ratio of houses to apartments was relatively unchanged over two months ago, when approximately 20% of listings in these areas were listed as houses, etc.

There was almost no change in the size of the listed rentals, as measured by the number of bedrooms. About 42% of the rentals listed in the Hollywood/Melrose region has two or more bedrooms, with the rest being studios, singles, and one bedrooms. This has changed little in the last two months, when that percentage was about 42%.

The largest rent increases occurred in Hollywood Hills, where the total increase was 28.0% and Melrose, where the total increase was 22.6%. Rent prices also increased in Hollywood (Up 0.3%).

Rent prices decreased in West Hollywood by 4.2% and Beverly Hills Adj by 3.9%.

This data is based on the listings at WestsideRentals.com, which are based entirely on the information provided by landlords who choose to list their vacancies on the service. WestsideRentals.com believes that the search for housing is a very personalized process. The best way for an individual to get educated on current market trends is to see the market in action. Register today to receive Free Listings in your email.

Additional information from this rent survey, including high-resolution charts and detailed reports for each area in this region can be found at http://www.westsiderentals.com/rentsurvey.cfm?survey=22_070604_A. All current and historical WestsideRentals.com rent surveys can be found at http://www.westsiderentals.com/rentsurvey/archive.cfm

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