The Los Angeles real estate market has cemented itself as one of the premier housing markets for both investors and homeowners. As with its West Coast counterparts, the City of Angels has witnessed rapid price growth in the face of increasing demand. If for nothing else, real estate in Los Angeles has become the beneficiary of some much appreciated momentum. As a result, there are a number of things both Los Angeles real estate investors and buyers need to pay special considerations to.

Median Home Price Los Angeles

The greater Los Angeles area currently has a median home value of $663,500. At its current level, the median home price in Los Angeles is approximately 8.6% higher than it was last year at this time, and there’s nothing to suggest prices won’t continue to increase. In fact, the experts at Zilloware convinced the median home value in Los Angeles has the potential to increase at least an additional 2.9% in the coming year.

It is worth noting, however, that Los Angeles real estate market trends aren’t expected to keep up with national trends, at least as home values are concerned. Again, according to Zillow, national home values are expected to increase, on average, 3.1% in the coming year. Despite the modest 0.2% increase over LA, however, the West Coast mega city boasts an average home value that is more than three times the national average ($207,600).

Median Rent Price Los Angeles

Due, in large part, to more than a half a decade of home value increases, median rent prices in Los Angeles have witnessed their own impressive ascent. Recent data presented by Zillow acknowledges that the median rent In Los Angeles is $3,490.

Of course, it’s worth noting that today’s historically high rents are skewed by equally impressive outlier neighborhoods. For example, Los Angeles’ priciest neighborhood to rent a in was Santa Monica, where one-bedroom units went for more than $3,000 a month as recently as a few months ago. Not far behind, similar units in the equally popular Venice neighborhood rented for just a couple hundred dollars less. Even the famed Beverly Hills and Pacific Palisades couldn’t keep up with Santa Monica, at least in terms of rent.