MarketRent | Cars to Walkway: How Walkable Neighborhoods are Transforming L.A.'s Rents/Development

Written on 06/21/2024
MarketRent Team

 
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MarketRent | Navigating Value. Empowering Decisions.
 
06/21/2024
In this issue of MarketRent™ powered by Clarendon, we spotlight how Los Angeles, once car-dominated, is shifting towards walkable neighborhoods, significantly impacting the rental market. Areas like Downtown LA, Koreatown, and West Hollywood illustrate how pedestrian-friendly environments command higher rents. Residents value the convenience and reduced need for cars, paying a premium for these benefits. 
 
This trend offers opportunities for real estate professionals to develop or improve properties in high-demand areas. Government housing authorities should prioritize walkability in affordable housing projects to ensure easy access to services, promoting healthier, car-free lifestyles for residents.
 
We also share a variety of data tools and visualizations to help you understand the connection between walkability rental prices and development in Los Angeles.
 
 
FEATURED
South Los Angeles: A Transformation in Progress 
 
Cars to Walkways: How Walkable Neighborhoods are Transforming L.A.'s Rents and Development
Los Angeles's increasing preference for walkable neighborhoods is significantly impacting the rental market, with pedestrian-friendly areas commanding higher rents. Prioritizing walkability is crucial to ensure residents have convenient access to essential services and amenities, promoting healthier lifestyles.   
 
Search by zip code to examine the impact of walkability on rental rates in Los Angeles. 
 
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Explore: Development in South LA Neighborhoods
 
 
Explore: Development in South LA Neighborhoods
 
Los Angeles, a diverse metropolis with a thriving entertainment industry, has long enticed investors and developers. Recently, South Los Angeles has seen renewed interest in revitalization. Ambitious multifamily housing projects are transforming underutilized lots into modern complexes, attracting professionals, students, and families. Government initiatives, like pedestrian-friendly streetscapes and improved transportation, enhance the area’s appeal. As South LA continues to evolve, it presents promising real estate investment opportunities.
 
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