Cheapest Neighborhoods in Santa Monica, CA
Some of the cheapest neighborhoods in Santa Monica are Sunset Park, Pico, and Ocean Park. These neighborhoods offer some of the lowest rent prices in Santa Monica, making them ideal for renters on a budget. As of September 18, 2026, the average rent in Santa Monica is $3,045, which is 0.9% 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
$2,603/Month
Year-Over-Year Rent Change
0.5%
Units Available
68 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Sunset Park. The average rent is $2,603, compared to the city average of $3,045. Rent prices have increased by 0.5%. Sunset Park is convenient to Santa Monica State Beach, The Art Inst., Los Angeles, and Expo/Bundy.
Pico
Average Rent
$3,123/Month
Year-Over-Year Rent Change
4%
Units Available
305 Rentals
Pico is an affordable neighborhood in Santa Monica with an average rent price of $3,123. Compare this to the city average of $3,045. In the past year, rent prices have decreased by 4%. Pico provides easy access to Bob Hope, Will Rogers State Beach, and Santa Monica Pier Aquarium.
Ocean Park
Average Rent
$3,265/Month
Year-Over-Year Rent Change
5.9%
Units Available
85 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 $3,265, while the city’s average stands at $3,045. In the last year, prices have increased by 5.9%. Ocean Park is near Expo/Bundy, Bob Hope, and Will Rogers State Historic Park.
Wilshire Montana
Average Rent
$3,401/Month
Year-Over-Year Rent Change
0.1%
Units Available
86 Rentals
Wilshire Montana is a top choice for budget-conscious renters for a variety of reasons. The average rent in Wilshire Montana is $3,401 while the city average is $3,045. This is a 0.1% difference from last year. Residents enjoy convenient access to Santa Monica Coll., Academy, Santa Monica Coll., and Santa Monica College, Madison.
Mid-City Santa Monica
Average Rent
$3,417/Month
Year-Over-Year Rent Change
0.1%
Units Available
303 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Mid-City Santa Monica. The average rent is $3,417, compared to the city average of $3,045. Rent prices have increased by 0.1%. Mid-City Santa Monica is convenient to 17 St/ Smc, Downtown Santa Monica, and Temescal Gateway Park.
North of Montana
Average Rent
$3,492/Month
Year-Over-Year Rent Change
2.4%
Units Available
27 Rentals
North of Montana is an affordable neighborhood in Santa Monica with an average rent price of $3,492. Compare this to the city average of $3,045. In the past year, rent prices have increased by 2.4%. North of Montana provides easy access to Temescal Gateway Park, Downtown Santa Monica, and Bob Hope.
Downtown Santa Monica
Average Rent
$3,611/Month
Year-Over-Year Rent Change
1.6%
Units Available
400 Rentals
If you’re looking for a great, affordable neighborhood in Santa Monica, Downtown Santa Monica might be the perfect place! It has an average rent price of $3,611, while the city’s average stands at $3,045. In the last year, prices have decreased by 1.6%. Downtown Santa Monica is near Bob Hope, Will Rogers State Beach, and 26Th St/Bergamont.
Northeast
Average Rent
$3,681/Month
Year-Over-Year Rent Change
0.2%
Units Available
18 Rentals
Northeast is a top choice for budget-conscious renters for a variety of reasons. The average rent in Northeast is $3,681 while the city average is $3,045. This is a 0.2% difference from last year. Residents enjoy convenient access to Santa Monica Coll., Will Rogers State Beach, and Santa Monica Pier Aquarium.
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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.