Rent Remains Expensive in Rancho Palos Verdes

RANCHO PALOS VERDES, CA -- Rancho Palos Verdes remains one of the most expensive places to live for renters with an increase in rent compared to 2015, according to RentCafe.

According to its report, published last week, Rancho Palos Verdes's rent increased by 6.3 percent in 2016. The increase is higher than the increase in the city of Los Angeles, which increased by 5.7 percent.

The average rent in Rancho Palos Verdes is $2,589, making it the fourth highest rental market in the county. Santa Monica tops the list at $3,256.

"The oceanfront might have something to do with the high average as well as the stable growth in some of these (areas), though," RentCafe's Balazs Szekely said.

The rental prices are calculated by the actual rents in multi-family buildings with 50 or more units.

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