Southern California has 24 of nation’s priciest places to rent

“How expensive?” tracks measurements of California’s totally unaffordable housing market.

The pain: Southern California has 24 of the nation’s 100 priciest ZIP codes to be a renter.

The source: My trusty spreadsheet reviewed RentHop’s ranking of US communities with the highest median rents — pulled from its pricing database for 2023 through Nov. 15.

The pinch

Rents in these Southern California neighborhoods average $5,581 for two bedrooms and $3,435 for one bedroom.

Let’s assume a household is spending one-third of its income on these rents, requiring $201,000 in salaries for the larger units and $124,000 for the smaller ones.

Or imagine how those rent checks translate to a mortgage at 7.5%? A two-bedroom renter could borrow $798,000 and one-bedroom tenant $492,000.

It’s not just renters paying high prices, by the way. Southern California also has 33 of the priciest ZIPs in which to own a home.

Pressure points

Montecito’s 93108 is Southern California’s costliest ZIP with a $10,000 rent for a two-bedroom unit and $3,750 for one bedroom. That ranked No. 5 nationally. Here are the remaining 24 ZIPs …

Santa Monica 90402: $8,500 for two bedrooms, $5,198 one bedroom. No. 8 nationally.

Los Angeles 90067: $7,523 for two bedrooms, $3,950 one bedroom. No. 12 nationally.

Malibu 90265: $6,850 for two bedrooms, $5,800 one bedroom. No. 18 nationally.

Los Angeles 90272: $5,998 for two bedrooms, $2,848 one bedroom. No. 42 nationally.

Beverly Hills 90210: $5,950 for two bedrooms, $3,500 one bedroom. No. 45 nationally.

Los Angeles 90077: $5,725 for two bedrooms, $3,000 one bedroom. No. 48 nationally.

Laguna Beach 92651: $5,500 for two bedrooms, $3,295 one bedroom. No. 49 nationally.

Newport Beach 92625: $5,448 for two bedrooms, $3,250 one bedroom. No. 52 nationally.

Los Angeles 90069: $5,250 for two bedrooms, $3,350 one bedroom. No. 59 nationally.

Los Angeles 90291: $5,250 for two bedrooms, $3,200 one bedroom. No. 60 nationally.

Coronado 92118: $5,200 for two bedrooms, $4,850 one bedroom. No. 62 nationally.

Hermosa Beach 90254: $4,995 for two bedrooms, $2,995 one bedroom. No. 72 nationally.

Los Angeles 90094: $4,900 for two bedrooms, $3,600 one bedroom. No. 74 nationally.

Santa Barbara 93103: $4,850 two bedrooms, $2,850 one bedroom. No. 76 nationally.

Marina del Rey 90292: $4,846 two bedrooms, $3,164 one bedroom. No. 77 nationally.

Manhattan Beach 90266: $4,800 two bedrooms, $3,300 one bedroom. No. 80 nationally.

Los Angeles 90049: $4,795 two bedrooms, $2,795 one bedroom. No. 83 nationally.

Santa Monica 90405: $4,695 two bedrooms, $2,880 one bedroom. No. 85 nationally.

Santa Monica 90401: $4,600 two bedrooms, $3,074 one bedroom. No. 89 nationally.

Santa Barbara 93105: $4,600 two bedrooms, $2,695 one bedroom. No. 90 nationally.

Beverly Hills 90212: $4,595 two bedrooms, $2,995 one bedroom. No. 91 nationally.

Los Angeles 90015: $4,575 two bedrooms, $3,000 one bedroom. No. 92 nationally.

Los Angeles 90010: $4,500 two bedrooms, $3,112 one bedroom. No. 95 nationally.

Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

Source: Orange County Register