Most Affordable Neighborhoods in Santa Monica, CA

Some of the cheapest neighborhoods in Santa Monica are Sunset Park, Ocean Park, and Pico. These neighborhoods offer some of the lowest rent prices in Santa Monica, making them ideal for renters on a budget. As of March 3, 2025, the average rent in Santa Monica is $3,062, which is 0.8% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.

Sunset Park

Average Rent

$2,648/Month

Year-Over-Year Rent Change

0.2%

TransitScore® Rating

52/100

Units Available

51 Rentals

Sunset Park is an affordable neighborhood in Santa Monica with an average rent price of $2,648. Compare this to the city average of $3,062. In the past year, rent prices have decreased by 0.2%. Sunset Park provides easy access to Los Angeles International, Will Rogers State Historic Park, and 26Th St/Bergamont. It’s a walkable neighborhood with a WalkScore® of 81.

Ocean Park

Average Rent

$3,339/Month

Year-Over-Year Rent Change

0.5%

TransitScore® Rating

60/100

Units Available

74 Rentals

If you’re looking for a great, affordable neighborhood in Santa Monica, Ocean Park might be the perfect place! It has an average rent price of $3,339, while the city’s average stands at $3,062. In the last year, prices have decreased by 0.5%. Ocean Park is near Santa Monica Coll., Airport, Santa Monica College, Madison, and 26Th St/Bergamont.

Pico

Average Rent

$3,416/Month

Year-Over-Year Rent Change

2.2%

TransitScore® Rating

67/100

Units Available

92 Rentals

Pico is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pico is $3,416 while the city average is $3,062. This is a -2.2% difference from last year. Residents enjoy convenient access to Los Angeles International, Mathias Botanical Garden, and Expo/Bundy. The neighborhood is considered walkable with a WalkScore® of 84.

Wilshire Montana

Average Rent

$3,509/Month

Year-Over-Year Rent Change

1.5%

TransitScore® Rating

65/100

Units Available

86 Rentals

When you’re looking for a great Santa Monica neighborhood on a budget, check out Wilshire Montana. The average rent is $3,509, compared to the city average of $3,062. Rent prices have increased by 1.5%. Wilshire Montana is convenient to Downtown Santa Monica, Santa Monica Pier Aquarium, and Santa Monica Coll., Emeritus. The community is walkable with a WalkScore® of 85.

Northeast

Average Rent

$3,583/Month

Year-Over-Year Rent Change

7.8%

TransitScore® Rating

62/100

Units Available

26 Rentals

Northeast is an affordable neighborhood in Santa Monica with an average rent price of $3,583. Compare this to the city average of $3,062. In the past year, rent prices have increased by 7.8%. Northeast provides easy access to Expo / Sepulveda Station, CVS Shopping Center, and Will Rogers State Historic Park. It’s a walkable neighborhood with a WalkScore® of 85.

Mid-City Santa Monica

Average Rent

$3,669/Month

Year-Over-Year Rent Change

1.6%

TransitScore® Rating

69/100

Units Available

177 Rentals

If you’re looking for a great, affordable neighborhood in Santa Monica, Mid-City Santa Monica might be the perfect place! It has an average rent price of $3,669, while the city’s average stands at $3,062. In the last year, prices have increased by 1.6%. Mid-City Santa Monica is near Stanford Plaza, Expo/Bundy, and Temescal Gateway Park.

North of Montana

Average Rent

$3,853/Month

Year-Over-Year Rent Change

0.4%

TransitScore® Rating

45/100

Units Available

46 Rentals

North of Montana is a top choice for budget-conscious renters for a variety of reasons. The average rent in North of Montana is $3,853 while the city average is $3,062. This is a 0.4% difference from last year. Residents enjoy convenient access to Santa Monica Pier Aquarium, Santa Monica College, Madison, and Temescal Gateway Park. The neighborhood is considered walkable with a WalkScore® of 77.

Downtown Santa Monica

Average Rent

$4,277/Month

Year-Over-Year Rent Change

3.4%

TransitScore® Rating

77/100

Units Available

172 Rentals

When you’re looking for a great Santa Monica neighborhood on a budget, check out Downtown Santa Monica. The average rent is $4,277, compared to the city average of $3,062. Rent prices have increased by 3.4%. Downtown Santa Monica is convenient to Santa Monica Coll., Emeritus, Santa Monica College, Madison, and Downtown Santa Monica. The community is walkable with a WalkScore® of 94.

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Methodology

Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.

We've combined this data with public records to provide the most current rental information available.