Average price for 1-bedroom apartment in Norwalk reaches $1,370
NORWALK -- Norwalk rental rates grew by 14.2% in the last year, behind only Burbank and West Covina, according to figures released today.
The Zumper Los Angeles Metro Report analyzed active listings in September across 19 metro cities to show the most and least expensive cities and cities with the fastest growing rents. The California state median was $1,699 last month.
The average rental price for a 1-bedroom in Norwalk is $1,370, just behind Downey ($1,400) and ahead of Whittier ($1,280) and Bellflower ($1,270).
West Covina rent had the largest yearly growth rate in the metro, up 15.4%. Burbank followed closely behind as second with rent climbing 15.3% since this time last year. Norwalk was third with rent up 14.2%.
Santa Monica rent grew to $3,350 last month, holding onto its position as the most expensive in the metro. Pasadena, substantially less expensive than Santa Monica, ranked as the second most expensive city with rent at $2,190.
Palmdale rent, though the fastest growing in the metro last month, remained the most affordable by far at $760.
Pomona followed suit as the second priciest city with rent at $1,260. Bellflower barely inched out Pomona with rent at $1,270.