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Old Posted Oct 13, 2019, 8:28 AM
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sopas ej sopas ej is offline
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Westwood Is the Most Expensive Neighborhood Outside Manhattan

In LA's most expensive neighborhood, rent averages $4,944 a month.


From Los Angeles Magazine:


Photo: Steve Proehl/Corbis/Getty Images


Westwood Is the Most Expensive Neighborhood Outside Manhattan

It ranks fourth in the country for average monthly rent. The entire country.

By Brittany Martin - October 9, 2019

If you think your neighborhood is getting pricey, just be glad you don’t live in Westwood. And, if you live in Westwood, um, yikes. Sorry, buddy. The 90024 ZIP Code which centers around the neighborhood comes in at number four on Rent Cafe’s new survey of most expensive places to live across the entire United States.

Spots one, two, and three, predictably went to ZIP codes in Manhattan–as did the spots from seven to ten, and then again form 12 to 20, and…well, apparently Manhattan has a whole lot of ZIP codes–but spots four, five, and six are all California. Coming up right behind Westwood is 90048, a ZIP code in the Beverly Grove part of town, and then one San Francisco ‘hood.

It’s not easy to be the most expensive neighborhood in Los Angeles, a city where rent prices seem to be on a constant skyward trend, but Westwood manages. The study finds rent prices in the ZIP Code to average $4,944 per month. That number is just over four percent higher than in their 2018 survey.

[...]

Link: https://www.lamag.com/article/westwo...hz2vrNTZl4kTzY
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Old Posted Oct 13, 2019, 12:49 PM
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The title from the magazine is misleading; Westwood may be the “the most expensive neighborhood outside Manhattan”, but the article only discusses a sample data of rent prices.
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Old Posted Oct 13, 2019, 4:18 PM
iheartthed iheartthed is online now
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I question the methodology. Some of those Manhattan zip codes are hard to believe.
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Old Posted Oct 13, 2019, 5:48 PM
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The picture kind of explains it all. Location, location, location. The neighborhood sits in the heart of one of the most economically active and affluent parts of the city. Highrise development is limited to the Wilshire corridor plus nearby Century City. The rest of the area is single family homes and three or four story apartment houses. NIMBY attitudes mean that high rise development will only happen in select locations.
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Old Posted Oct 13, 2019, 6:28 PM
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The most expensive neighborhoods are places like shorelines where every house is worth in the tens of millions. It's not where the highest rents are. The article might be fine, but the headline is clickbait.
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Old Posted Oct 15, 2019, 3:39 PM
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Quote:
Originally Posted by iheartthed View Post
I question the methodology. Some of those Manhattan zip codes are hard to believe.
It looks like some of those zip codes only have luxury highrises for rent.

The best way to figure out the most expensive neighborhoods for rents is price per sq ft.
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