L.A. Rent Mysteriously Hits Four‑Year Low as Vacancies Turn Tide for Tenants

L.A. Rent Mysteriously Hits Four‑Year Low as Vacancies Turn Tide for Tenants

For renters beaten down by a decade of relentless hikes, the sudden slide in Los Angeles prices feels nothing short of miraculous, a crack in what once seemed an unbreakable wall.

After years in which every lease renewal brought fresh dread and each apartment hunt felt like a losing battle, listings across the city are finally blinking lower, not higher, signaling a rare shift in power away from landlords and back toward tenants.

For years, L.A. has been one of the costliest cities in the country for renters. Annual price hikes seemed inevitable, and finding the perfect apartment felt more like a competitive sport.

But data suggest that the market could be ever so slightly shifting.

The median rent in the L.A. metro area dropped to $2,167 in December — the lowest price in four years, according to data from Apartment List that analyze new leases for one- and two-bedroom apartments in a given month. The median rent for L.A. County also dropped to a four-year low of $2,035.

The last time L.A. rents were that low was January 2022, in the wake of a furious pandemic home-buying market that saw a wave of renters buy homes for the first time, leaving apartments empty and bringing prices down.

There are several potential reasons for this happy development. The media is currently focusing on the increase in the supply of multifamily units in the area.

Whether the drop is a sign of a further decline or a simple blip remains to be seen. Some experts believe it’s a harbinger of things to come, while others see it as a brief price plateau before rents rise again this year, according to the Times. The winter rental market is usually slower than the summer, and the December 2025 low is only 4.2 percent below the all-time high of $2,262 in August 2022.

Los Angeles has largely fallen behind other cities like San Diego when it comes to housing construction, but last year marked a significant uptick in new apartments hitting the market, according to the Times. In total, 15,095 multifamily units were completed in Los Angeles, marking an 18 percent increase year-over-year and the second-highest amount in the past decade, per CoStar data cited by Kidder Mathews in its fourth-quarter multifamily report.

There are likely other contributing factors. Much of the recent coverage of the Immigration and Customs Enforcement (ICE) deportations in southern California has focused on the protests.

However, I would like to focus on results. Reports indicate that ICE deportations from California surged in 2025: at least 8,200 people were removed from the U.S. from California between January and September 2025, more than double the roughly 4,000 deportations reported for all of 2024.

Rent prices in Los Angeles are dropping.

As mass deportations continue you will see more of this

One in ten in Los Angeles are illegal immigrants. pic.twitter.com/ElDTdx4Wow

— Sarah Sansoni (@sarahsansoni) January 31, 2026

Additionally, many have self-deported, including one notorious criminal who helped steal $100 million in jewelry.

Federal immigration authorities allowed a suspect in a $100 million jewelry heist, believed to be the largest in U.S. history, to deport himself to South America in December.

Jeson Nelon Presilla Flores was one of seven individuals charged last year in connection with the 2022 theft of diamonds, emeralds, gold, and designer watches from a Brink’s armored truck north of Los Angeles.

Flores, a lawful permanent resident who was out on bail, was taken into custody by U.S. Immigration and Customs Enforcement (ICE) in September without the knowledge of the federal prosecutors handling his criminal case.

During a December 16 immigration hearing, Flores waived his rights and requested voluntary departure to Chile.

However, any rent decrease may soon be offset by a new mileage tax. California lawmakers have advanced Assembly Bill 1421 (AB 1421), which expands and extends the state’s “road usage charge” (mileage‑based fee) pilot and directs planning work toward a possible mileage tax to replace the gas tax.

A California Assembly bill could drive the state closer to a mileage-based tax system.

AB 1421 passed its third Assembly reading 43-18 Thursday.

One of those no votes was Valley Assemblymember David Tangipa.

“This is a direct assault on the everyday Californians in rural portions of California that own gas vehicles,” Tangipa said.

🚨WARNING🚨 A mileage tax could be coming to California! AB 1421 passed the Assembly Floor today and would result in even higher taxes in the state that already pays the highest gas tax! pic.twitter.com/6dn9BlZrSo

— Assemblyman David Tangipa (@AsmTangipa) January 30, 2026

Unless the legislative stranglehold Sacramento has on Californian’s bank accounts ends, I predict even more vacancies and lower rents in the future. From 2010 through 2024, almost 10 million people moved from California to other states, while just over 7 million moved in.

In other words, Californians are going to self-deport to other states in even larger numbers.

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