Best Affordable Neighborhoods in Santa Monica, CA
Some of the cheapest neighborhoods in Santa Monica are Sunset Park, Austin Heights, 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 20, 2026, the average rent in Santa Monica is $2,976, which is 2.4% lower 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
$2,613/Month
Year-Over-Year Rent Change
0.7%
Units Available
82 Rentals
Sunset Park is an affordable neighborhood in Santa Monica with an average rent price of $2,613. Compare this to the city average of $2,976. In the past year, rent prices have increased by 0.7%. Sunset Park provides easy access to Santa Monica Pier Aquarium, Ballona Creek Trail - Ballona Wetlands Ecological Reserve Access, and Los Angeles International.
Austin Heights
Average Rent
$2,684/Month
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Santa Monica, Austin Heights might be the perfect place! It has an average rent price of $2,684, while the city’s average stands at $2,976. Austin Heights is near Santa Monica Pier Aquarium, Santa Monica Place, and Santa Monica College, Madison.
Pico
Average Rent
$2,930/Month
Year-Over-Year Rent Change
6.5%
Units Available
240 Rentals
Pico is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pico is $2,930 while the city average is $2,976. This is a -6.5% difference from last year. Residents enjoy convenient access to Will Rogers State Historic Park, Santa Monica College, Madison, and Downtown Santa Monica.
Ocean Spray
Average Rent
$2,942/Month
Units Available
19 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Ocean Spray. The average rent is $2,942, compared to the city average of $2,976. Ocean Spray is convenient to 26Th St/Bergamont, Santa Monica Coll., Emeritus, and Santa Monica Coll., Academy.
Sierra Vista Heights
Average Rent
$3,064/Month
Units Available
49 Rentals
Sierra Vista Heights is an affordable neighborhood in Santa Monica with an average rent price of $3,064. Compare this to the city average of $2,976. Sierra Vista Heights provides easy access to Stanford Court, Los Angeles International, and Expo / Sepulveda Station.
Wilshire Montana
Average Rent
$3,144/Month
Year-Over-Year Rent Change
0.1%
Units Available
106 Rentals
If you’re looking for a great, affordable neighborhood in Santa Monica, Wilshire Montana might be the perfect place! It has an average rent price of $3,144, while the city’s average stands at $2,976. In the last year, prices have increased by 0.1%. Wilshire Montana is near Wilshire Shopping Center, Expo/Bundy, and 26Th St/Bergamont.
Chelsea Green
Average Rent
$3,372/Month
Units Available
15 Rentals
Chelsea Green is a top choice for budget-conscious renters for a variety of reasons. The average rent in Chelsea Green is $3,372 while the city average is $2,976. Residents enjoy convenient access to Santa Monica Coll., Will Rogers State Historic Park, and Santa Monica State Beach.
Green Acres
Average Rent
$3,386/Month
Units Available
27 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Green Acres. The average rent is $3,386, compared to the city average of $2,976. Green Acres is convenient to 26Th St/Bergamont, Santa Monica College, Madison, and Downtown Santa Monica.
Mid-City Santa Monica
Average Rent
$3,415/Month
Year-Over-Year Rent Change
0.2%
Units Available
257 Rentals
Mid-City Santa Monica is an affordable neighborhood in Santa Monica with an average rent price of $3,415. Compare this to the city average of $2,976. In the past year, rent prices have decreased by 0.2%. Mid-City Santa Monica provides easy access to Downtown Santa Monica, Expo / Sepulveda Station, and Stanford Plaza.
Northeast
Average Rent
$3,473/Month
Year-Over-Year Rent Change
4.2%
Units Available
22 Rentals
If you’re looking for a great, affordable neighborhood in Santa Monica, Northeast might be the perfect place! It has an average rent price of $3,473, while the city’s average stands at $2,976. In the last year, prices have decreased by 4.2%. Northeast is near Expo/Bundy, Santa Monica Coll., Emeritus, and Mathias Botanical Garden.
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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.