There are currently 334,627 real estate properties in Los Angeles, CA, with a median automated valuation model (AVM) price of $941,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Los Angeles, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Los Angeles, CA, is $1,308,423.00, with the most expensive house in Los Angeles, CA, topping out at $96,550,800.00 and the cheapest home in Los Angeles, CA, clocking in at $11,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Los Angeles, CA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Los Angeles, CA, is on a rollercoaster ride. The average rent price in Los Angeles, CA, is $2,962.00. Indeed, when looking to rent in Los Angeles, CA, you can expect to pay as little as $950.00 or as much as $8,260.00, with the average rent median estimated to be $2,540.00. The good news is that finding an affordable and desirable property to rent in Los Angeles, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
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