Secret SoCal spots for massive discounts on rent amid crippling housing crisis

While the housing market continues to price potential homebuyers out, renters might have better luck — as landlords offer hefty discounts across Southern California in some of the state’s most trendy spots.Prices have been slashed in 32 of the 53 cities, with LA and Ventura counties seeing the biggest percentage drops, according to a rent analysis compiled by the Orange County Register. In the past year, Santa Monica saw rent prices fall 6% with a one-bedroom now going for $2,215 and $2,656 for a two-bedroom.Listings on Zillow showed hundreds of one bedroom apartments in LA county, including locations like Brentwood and Century City for under $2,300.  California's top news, sports and entertainment delivered to your inbox every day.Please provide a valid email.

By clicking above you agree to the Terms of Use and Privacy Policy.Never miss a story In Pasadena, renters can scoop up a one bed for $2,110 and a two bedroom for around $2,700 — representing a 5% dip from last year. Across the the region, rent dropped .4% with the median cost to get into a one-bedroom now at $1,921 and $2,359 for a two, according to the paper citing June data from ApartmentList. However, in the 20 cities where the cost went up the price was significantly higher at $2,146 for a one-bedroom. The reason for the steep discounts is due to a cooling economy, and landlords struggling to fill vacant apartments as construction continues to put more units on the market. San Diego and Inland Empire also saw steep cuts, with 63% and 54% of cities respectively lowering rent prices. Other areas with discounts up to 4% include Oxnard and Monrovia. The rent cuts are welcome news for Californians struggling with the state’s high cost of living and sky-high home prices, giving many would-be buyers a more affordable option while they wait for the housing market to improve.The easing rental market also stands in stark contrast to Californ...