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Santa Monica Rents Decline 10.3%

10/15/2020 9:34 AM | Margaret Fulton (Administrator)

Santa Monica Rents Decline 10.3% in 6 Months Since the Covid-19 Pandemic Lockdown Began

"A recent study found that over the course of the coronavirus pandemic, California cities experienced some of the greatest drops in rent prices in the nation," wrote Emily Leff, a spokesman for Insurify, in a press release.

"Between March and September of 2020, Santa Monica's rents decreased by 10.3% (it is 15th on the list of 20 cities with the greatest rent reductions during the pandemic). As of September 2020, the average cost of rent for a 2-Bedroom unit in Santa Monica is $2,432. The year over year change in rent (from 2019-2020) is -11.1%," she writes.

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