Pasadena Rents Buck Countywide Decline as L.A. Market Hits 4-Year Low

Rents across Los Angeles County have fallen to their lowest point in four years, but Pasadena stands out as one of the few communities where prices continue to rise — and as among the very highest — according to a report released Wednesday by Realtor.com.

The report found the median asking rent countywide dropped to $2,520 in the first quarter of 2026 — a 3.7% decrease from a year earlier and well below the pandemic-era peak in 2022. Despite the decline, economists said affordability remains out of reach for many households, which would need to earn more than $107,000 annually to afford a typical Los Angeles-area unit.

Market trends varied sharply across the county. Higher-priced coastal cities saw some of the steepest drops, including Beverly Hills, where median asking rents fell 9.3% to $4,574, and Santa Monica, down 2.6% to $4,187. Malibu posted a 3.6% decline to $14,871.

Pasadena moved in the opposite direction. The report found local asking rents rose 5.8% to $2,823, one of the largest increases among inland or transit-oriented communities. Long Beach also saw an uptick, rising 2.4% to $2,624, while Culver City remained nearly flat at $2,821.

“Los Angeles is a market in transition,” Danielle Hale, chief economist at Realtor.com, said in a statement. She added that increased supply has given renters more options, though “falling rents don’t automatically mean affordable rents.”

Within the city of Los Angeles, the median asking rent fell 3.5% to $2,682 in the first quarter. But the gap between asking rents and what tenants actually pay remains wide. Median contract rent in 2024 was $1,804, more than $1,000 below current listings, contributing to more than 86% of renters staying in the same unit year over year.

Policy changes are also expected to influence the market. A revised Rent Stabilization Ordinance taking effect in July will cap annual rent increases at 4%, down from the previous 8%, and apply to roughly three-quarters of rental units in Los Angeles.

Analysts said the divergence reflects shifting demand, with renters gravitating toward relatively more affordable or transit-accessible neighborhoods while coastal markets adjust after steep pandemic-era surges.