Thursday, March 12, 2015
RadPad: New Metro Line Will Boost Rents
Looking for a new apartment in LA (or perhaps, looking for some investment property)? The new LA Metro extensions across the LA basin are expected to boost rent prices by at least 25%, according to LA rental marketplace RadPad. The startup has run the numbers--and created an impressive infographic detailing the typical rent prices of 1 bedroom prices in LA along those new extensions. Good news for your commute time, or if you are a real estate investor along these corridors, but bad news for your rent budget. RadPad said that similar rail line extensions in such cities as Boston increased rent prices by 25 percent to 67 percent. RadPad is hoping renters in those corridors more interested in saving rent rather than commute time will use its marketplace to find a new rental.