Two Southern California Neighborhoods Named As Most Expensive For Renters

By Adam Bookbinder

No one ever said it was cheap to live in Southern California.

Unfortunately there are many places around the country where you get a lot more for your money.  But the trade-off of course is the incredible lifestyle, beautiful scenery and of course the weather we have.

Apartments.com recently revealed 14 of the most expensive neighborhoods for renters in 2014, two of which are right here in Southern California.

To come up with the list, they looked at many different financial factors including the average rent for a one-bedroom apartment, how much of a person’s monthly income goes towards the rent, median monthly household income, overall cost of living and inflation.

Nationally the average cost of a one-bedroom apartment’s rent in August was $939 according to the commercial real estate industry’s CoStar.

The two most expensive Southern California neighborhoods for rent of one one-bedroom apartment are Newport Beach’s Newport Center area coming in at number 9 with average rent $3,133 a month and at number 13 is Pasadena’s Southern Pasadena area with the average rent of $2,662 per month.

See the rest at The Wave.

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