Best Affordable Neighborhoods in Santa Monica, CA
Some of the cheapest neighborhoods in Santa Monica are Sunset Park, Wilshire Montana, and Pico. These neighborhoods offer some of the lowest rent prices in Santa Monica, making them ideal for renters on a budget. As of May 5, 2026, the average rent in Santa Monica is $2,975, which is 1.9% 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
$2,625/Month
Year-Over-Year Rent Change
0.2%
Units Available
100 Rentals
Sunset Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Sunset Park is $2,625 while the city average is $2,975. This is a 0.2% difference from last year. Residents enjoy convenient access to Will Rogers State Historic Park, Mathias Botanical Garden, and Santa Monica State Beach.
Wilshire Montana
Average Rent
$3,172/Month
Year-Over-Year Rent Change
0.2%
Units Available
102 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Wilshire Montana. The average rent is $3,172, compared to the city average of $2,975. Rent prices have increased by 0.2%. Wilshire Montana is convenient to Santa Monica State Beach, Bob Hope, and Santa Monica Coll..
Pico
Average Rent
$3,227/Month
Year-Over-Year Rent Change
4.1%
Units Available
369 Rentals
Pico is an affordable neighborhood in Santa Monica with an average rent price of $3,227. Compare this to the city average of $2,975. In the past year, rent prices have decreased by 4.1%. Pico provides easy access to The Art Inst., Los Angeles, 17 St/ Smc, and Mathias Botanical Garden.
Ocean Park
Average Rent
$3,313/Month
Year-Over-Year Rent Change
4.5%
Units Available
79 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 $3,313, while the city’s average stands at $2,975. In the last year, prices have decreased by 4.5%. Ocean Park is near Lincoln Center, Santa Monica Coll., Emeritus, and Ballona Creek Trail - Ballona Wetlands Ecological Reserve Access.
Mid-City Santa Monica
Average Rent
$3,565/Month
Year-Over-Year Rent Change
0.9%
Units Available
297 Rentals
Mid-City Santa Monica is a top choice for budget-conscious renters for a variety of reasons. The average rent in Mid-City Santa Monica is $3,565 while the city average is $2,975. This is a 0.9% difference from last year. Residents enjoy convenient access to Santa Monica Coll., Academy, Santa Monica College, Madison, and 26Th St/Bergamont.
Northeast
Average Rent
$3,578/Month
Year-Over-Year Rent Change
2.4%
Units Available
21 Rentals
When you’re looking for a great Santa Monica neighborhood on a budget, check out Northeast. The average rent is $3,578, compared to the city average of $2,975. Rent prices have decreased by 2.4%. Northeast is convenient to Bob Hope, Los Angeles International, and Will Rogers State Historic Park.
Downtown Santa Monica
Average Rent
$3,834/Month
Year-Over-Year Rent Change
1.6%
Units Available
407 Rentals
Downtown Santa Monica is an affordable neighborhood in Santa Monica with an average rent price of $3,834. Compare this to the city average of $2,975. In the past year, rent prices have decreased by 1.6%. Downtown Santa Monica provides easy access to Santa Monica Coll., Santa Monica Coll., Academy, and Temescal Gateway Park.
North of Montana
Average Rent
$3,991/Month
Year-Over-Year Rent Change
0.4%
Units Available
47 Rentals
If you’re looking for a great, affordable neighborhood in Santa Monica, North of Montana might be the perfect place! It has an average rent price of $3,991, while the city’s average stands at $2,975. In the last year, prices have decreased by 0.4%. North of Montana is near Expo/Bundy, Santa Monica Pier Aquarium, and Bob Hope.
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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.