Los Angeles , CA

Monthly Housing Development Update | January 2022

General statistics, market trends and outlook for housing development in Los Angeles, CA

City Housing Update for January 2022

Current Trends:

During this past month of December, the median rental price for a single family home in Los Angeles was $4,072 and median sale price for a single family home in the city was $689,500. There were approximately 8,967 homes listed for sale in the city at the end of December, compared with 9,113 in November. During the last month, homes sold within 60 days on the market and received 3 offers per sale on average.

City Housing Supply:

As of the end of 2017, the total count of existing housing units in the city was 1,483,697. Single family housing units make up about 43.53% of Los Angeles's housing units, 645,902 units total. Multifamily units make up 55 percent, or approximately 827,713. As of last year, the average housing density (people per household) was 2.86, compared with the state average of 2.97. At the end of the period, about 100,727 of housing units in the city were unoccupied, suggesting a vacancy rate of 0 percent.

Regulations & Outlook:

The City has not yet finalized updates to it's residential zoning code that fully comply with State Laws SB 1069 and AB 2299 which allow for Accessory Dwelling Units (ADUs) to be developed on most single family lots. More commonly referred to as “Granny Flats” and “In-Law Units”, in Los Angeles as many as 381,082 homes may now be eligible to add some form of second dwelling unit. These laws are intended by The State to boost opportunities for housing production in cities in an effort to address the growing housing deficits local communities face accross The State. Typically secondary units are constructed by homeowners in backyards, converted garages and basements of single family residences. These new regulations could now allow individual homeowners to play a significant role to increase housing production in Los Angeles over the coming years. Consider for example, if just one percent of eligible homeowners in Los Angeles built an ADU each year, it would contribute an additional 19,054 units to the city's housing stock over the next five years and create thousands of new local construction jobs.

Local News & Policy:

At this time, statewide standards will superseed any local residential zoning requirements for ADUs that are non-compliant with the state's minimum set of requirements. The current development standards for ADUs in Los Angeles, or any other CA city, can be found at the city zoning page link and search below. Recently More information on the latest local policies and requirements for ADUs will be available as they are passed. Check back each month for the latest changes in Los Angeles.

Get Involved:

For homeowners and local developers who are interested in getting involved in the ADU movement locally in Los Angeles, use Housable to get insights about the ADU housing development potential of specific properties. Housable provides zoning, permitting, estimation and design tools, many of them free of charge, to help homeowners at any step plan, permit and build their ADU projects. Use property design and calculation tools any time, get low cost insights about the ADU potetnial of your property and connect with local professionals who can help with the process when you're ready to get started. Stay up to date with the latest local trends in housing production and join the ADU movement to create more housing in Los Angeles, one garage, basement, or backyard at a time.

Exerpts From City Housing Reports

Second units are permitted on parcels where one single-family unit exists or is concurrently proposed. The minimum floor area is 220 square feet. The maximum floor area varies by the size of the lot, from 600 square feet for lots less than 6,000 square feet to 1,200 square feet for lots 10,000 square feet or larger. Second units in certain areas may require a conditional use permit if the proposed unit is located within a Very High Fire Hazard Severity Zone, or within an area not served by a public sewer system or water system. In addition, second units are prohibited on hillsides with a slope greater than 25%.

During the planning period, 265 applications for second units were approved under the County's Second Unit Ordinance.

Current Market Stats January 2022

Median Sales Price $689,500.00

Median Rental Price $4,071.00 Based on 840 sqft unit

Total Homes on Market 8967

Average Days on Market 60

Average Offers per Sale 3

City Housing Stock 2017

Total Housing Units 1483697

Single-Family Units 645902

Other Type Units 10082

Unit Vacancy Rate 0.0679

Annual Units Produced (2017) 13852

Go to Los Angeles ADU Zoning Page

General City Info Los Angeles, CA

City Population 4,054,400

City Area 468.67 sq. mi.

We have our final inspection TODAY and do expect it will go well. We’ve been lucky to have a nice inspector. I’ll send you more pics this weekend!

Fiona K. in Bell Canyon, CA

The plans were approved and I received the permit today. Thank you for all your help with the process!

Jannie B. in Los Angeles, CA

My experience with Housable was exceptional. The team was extremely helpful and responsive. I am very satisfied and happy to have used these services. As a homeowner I do not know the construction lingo or process but the Housable team very kind and helpful and patient with me. My expectations were exceeded. Thank you for everything.

Monica H. in Oakland, CA

City & State Housing News

Los Angeles, CA California's 'granny flat' housing law may offer ... - Business Insider www.businessinsider.com 26/03/2017

Go to Los Angeles ADU Zoning Page

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