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Tuesday, September 27, 2016

Echo Park renters might find a cheaper place and a parking spot in Highland Park

Photo by ishane/flickr

Is Highland Park the next Echo Park? Only if the rents rise and parking spaces disappear, judging by  a comparison of apartment rents in both neighborhoods. In his most recent Craigslist-based snapshot of apartment rents,  apartment investor and blogger Moses Kagan found that the median rent of a one-bedroom Echo Park apartment north of the 101 Freeway came in at $1,150 versus $925 for Highland Park.  The Echo Park median, based on listings that were posted on Feb. 16, was 24% higher than in Highland Park “though in Highland Park you almost always get parking and in EP, you almost never do,” Kagan said.

Kagan did not include any figures that Echo Park might be more parking challenged than Highland Park. But searching for a parking spot near Echo Park and Scott avenues on a street sweeping day would probably prove his point.



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21 comments

  1. If you can’t find street parking in Highland Park, you can always grab a sandwich on York or Figueroa, then come back 15 minutes later; by that time, a car or two will be stolen, which will free up those spots.

    🙂

    • quite derogatory, uneducated, uninformed, biased, idiotic, quite stupid and if your attitude is what it seems then please share your stupid views with residents of H.P. If you dare.
      WOW apes with little brains do exist.

  2. Been living in HP for 11 years, left my car unlocked overnight many times and nothing ever happened to it…Now I won’t tell you what I’m driving…

    • Probably not a 1988-1991 Camry. (My ’89 Camry was stolen off the street in Silver Lake in 2002. Luckily, the police found it down the street the next morning, stripped of the radio and all the stuff in the glove box and trunk.) My 1968 Camaro was stolen in 1989 – in Thousand Oaks. The police found that car on the side of the 5 Freeway in Oceanside a few weeks later – with a blowout on one of its tires and a burned-out engine. I religiously use a club now – a sturdy piece of metal that attaches to the brake pedal. And I don’t waste money on fancy Cerwin-Vega 6×9 speakers, JBL subwoofers, or Infinity amps. Learned my lesson at a young age.

  3. Interesting, but not the least bit scientific a study — meaning you can’t actually go by this. Still, I do expect that it coincidentally, not scientifically, probably is about right.

    But even in Highland Park, rents are far too high. That is much too high a chunk of most renters’ incomes to have to dole out each month for housing. Mind you, that price is just a one-bedroom apartment, built for one.

    Landlords really skyrocketed rents to this level in the past decade with the skyrocketing housing sale prices. Yet now that housing prices have plummeted, landlords have not dropped prices. Renters are being bled silly.

    • The average one bedroom apartment in Highland Park was probably built in 1923 and soon after occupied by a couple, recently arrived from Omaha.

      That couple lived there until they bought a bungalow somewhere, whereupon another couple moved in after that, etc.

      Studios (aka “singles”) were built for one person.

  4. Location location location.

    Rents (and housing prices) reflect where people want to live.

    Simple as that.

    It’s not rocket science.

    • Rents reflect what people buy houses for than jack up rents ,and most of the time dont even live in the neighborhoods .
      If they dont buy them and flip them.

      You are right , its not rocket science

      • ??
        If a rent is higher than market value (what people are willing to pay), then people won’t rent it out, at least not quickly.
        There’s a courtyard property a few buildings down from me and there’s always vacancies ‘cos the landlord is delusional about its market value. I’ve seen one apt stay vacant (and ‘for rent’) for 6 friggin months!! There’s NO way the landlord can make that up on a 1 year lease. He’d make more $$ per year by just renting at market value or lower, lol.

        Stupid and illogical? Yes, but it’s not the norm. Most landlords are smart enough to adjust rents close to market value—or lower if they don’t want to sit on it for too long.

        If someone overpays for a house, they’re not gonna get it back in rental income (even if they pay current market rate for a house). It’s not rocket science.

  5. HLP is the next Silverlake. Those Echo Park fools can just stay in their little ghetto because Highland Park is on the ups!

  6. So I guess that makes Boyle Heights the next Highland Park?

  7. This whole ‘HP is the next EP’ or ‘BH is the next HP’, etc., is a bit redundant. Rents tend to go up everywhere (with some exceptions of course). ONLY if HP becomes MORE expensive to live in than EP is CURRENTLY, would the term ‘next…xxx’ be more relevant.

    For decades people were saying EP was becoming the new SL, but SL rents continued to rise also and the result is that it’s still cheaper to live in EP than SL (on average, same house, same nice block esthetic, etc.).

  8. There are huge variables in both EP and HP that make this comparison meaningless. In HP are the apartments near york and Ave. 51, or down by the 110? Up in the hills or right off Figueroa. Same for EP, north of the 101 but what about in the hills near Elysian?

  9. I love HP. I bought my 1st & 2nd home there and never experienced anything close to what I experienced when I lived in Los Feliz (car break in in the hills, mugged 2 blocks away from the Alcove). Just because an area isn’t mostly white, doesn’t mean it’s a bad area.

  10. NEWS UPDATE!!

    Prices in echo park are officially cheaper than highland park!
    http://losangeles.craigslist.org/lac/apa/2807767657.html

  11. If your having rent problems I feel bad for you son I’ve got 99 problems but street parking ain’t one.
    As each neighborhood becomes popular more people move in and the street parking will be less abundant. Deal with it. HLP (not HP newbs) is steadily getting worse as more people move in. Not only is the street parking getting filled (depending where you are) but the 110 and its offramps are also getting more congested during the rush hours at times it’s almost 101 bad. From dtla it used to take me 20 min to get through the 110 now it takes about double that.

  12. I live one block north of York and I noticed more cars driving down my street . I take it they are on their way to the bars. I wish there were speed bumps so these idiots dont speed. There are families and kids that live here .

  13. Families and kids live everywhere, lol…

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