Is It Better to Rent or Buy in Los Angeles? A Local Expert Perspective

By Jocelyn Kelley & Hays Westbrook
The Kelley | Westbrook Group

One of the most common questions we hear from clients is:
“Is it better to rent or buy in Los Angeles right now?”

The answer depends on your goals, lifestyle, and timeline—but in a market as nuanced as LA, especially on the Westside, there are clear patterns worth understanding. As real estate professionals who live and work in Santa Monica, Pacific Palisades, Brentwood, and surrounding neighborhoods, we help clients navigate this decision every day.

Here’s how to think about renting vs. buying in Los Angeles—strategically, not emotionally.

The Case for Renting in Los Angeles

Renting can make sense in certain situations, particularly in a high-priced, competitive market like LA.

Renting May Be the Right Choice If You:

• Plan to stay in Los Angeles for less than 3–5 years

• Are relocating and want to learn neighborhoods first

• Value flexibility and minimal maintenance

• Are waiting for liquidity events or career transitions

Pros of Renting

• Lower upfront costs

• Flexibility to move easily

• No property taxes, HOA dues, or maintenance expenses

• Ability to live in premium locations without long-term commitment

Cons of Renting

• Rent increases over time

• No equity or long-term wealth creation

• Limited control over the property

• No hedge against inflation

In neighborhoods like Santa Monica and Venice, we’ve seen strong rental demand—especially for well-located, turnkey properties—but rents continue to trend upward.

The Case for Buying in Los Angeles

Buying a home in Los Angeles is often as much about long-term strategy as it is about lifestyle.

Buying May Be the Right Choice If You:

• Plan to stay 5+ years

• Want predictable housing costs

• Are focused on building long-term equity

• Value stability and customization

• Are buying in supply-constrained neighborhoods

Pros of Buying

• Builds equity over time

• Potential tax advantages

• Protection from rising rents

• Ability to renovate and personalize

• Long-term appreciation in prime locations

Cons of Buying

• Higher upfront costs

• Market fluctuations

• Responsibility for maintenance

• Less flexibility in the short term

In coastal Westside neighborhoods—like Santa Monica, Pacific Palisades, and Brentwood—limited inventory and lifestyle-driven demand have historically supported long-term value, even through market cycles.

Los Angeles Is Not One Market

This is critical: Los Angeles is a collection of micro-markets, and the rent vs. buy decision looks very different depending on location.

• Santa Monica: Strong rental demand + long-term appreciation

• Pacific Palisades: Higher entry point, long-term stability

• Brentwood: Family-driven demand, strong resale value

• Venice: Lifestyle appeal with more pricing volatility

Buying in a supply-constrained, walkable, lifestyle-oriented neighborhood often tips the scales toward ownership—especially if you plan to stay put.

What About Interest Rates?

Interest rates matter—but they are only one piece of the equation.

We often remind clients:

You can refinance a rate, but you can’t refinance the purchase price.

Many buyers who waited on the sidelines in previous cycles ended up facing higher prices later. Strategic buyers focus on:

• Negotiating price and terms

• Buying the right property in the right location

• Refinancing when opportunities arise

Rent vs. Buy: The Long-Term View

Historically, Los Angeles real estate—particularly on the Westside—has rewarded patience.

Over time, buyers benefit from:

• Appreciation

• Loan paydown

• Inflation protection

• Lifestyle equity (quality of life)

Renting, while sometimes necessary or strategic short-term, does not provide these long-term advantages.

So… Is It Better to Rent or Buy in Los Angeles?

There is no one-size-fits-all answer—but there is a right answer for your situation.

The best decision comes from understanding:

• Your timeline

• Your financial picture

• Your lifestyle priorities

• The specific neighborhood and property

That’s where local expertise matters.

Work With Trusted Los Angeles Real Estate Advisors

Jocelyn Kelley and Hays Westbrook bring decades of combined experience helping clients make smart, strategic real estate decisions across Santa Monica, Pacific Palisades, Brentwood, and the Westside of Los Angeles.

Whether you’re deciding to rent, buy now, or plan for the future, we’re here to provide honest guidance and real market insight.

📩 Reach out to the Kelley | Westbrook Group to discuss your options.