Apartment rents fall 8.1% in Santa Monica, most in LA market

Santa Monica’s rental market has undergone a sharp correction, posting the steepest decline among Los Angeles metro submarkets.  As of April, rents have fallen 8.1 percent year-over-year, according to Apartment List, the Santa Monica Daily Press reported. It’s a dramatic reversal from early 2025, when the Palisades fire drove Westside rents upward. Zumper’s data shows an even steeper 12 percent annual drop, while RentCafe reports a modest 0.4 percent decline for larger buildings. The city’s median rent now stands at $2,328, down nearly $200 from a year ago and well below its March 2025 peak of $2,527. One‑bedroom units have fallen from […]This article originally appeared on The Real Deal. Click here to read the full story.