Gross Rent Multiplier in Los Angeles: 19.1 as of July 2026
The gross rent multiplier for single-family homes in the Los Angeles metro area is 19.1. A typical home is worth $1,026,764 and rents for $4,483 a month, so the price equals 19.1 years of gross rent. That is higher than the US figure of 13.5.
- Gross rent multiplier
- 19.1
- -0.2 in the last year
- Typical home value
- $1,026,764
- Single-family, mid-tier
- Typical monthly rent
- $4,483
- $53,796 a year
- Implied cap rate
- 3.2%
- 5% vacancy, 36% expenses
How the Los Angeles GRM has changed since 2015
Since January 2015, the typical single-family home value in the Los Angeles metro rose 90% and typical rent rose 80%. Prices grew faster than rents, so the gross rent multiplier went from 18.1 to 19.1.
The multiplier peaked at 20.9 in June 2022 and was lowest at 16.8 in December 2015.
The biggest one-year rise came in the year to July 2021, up 1.7 as home values rose 18% and rents rose 8.1%. The biggest one-year drop came in the year to July 2023, down 1.5 as home values fell 3.2% and rents rose 4.3%.
Home values vs rents in Los Angeles
Both lines start at 100 in January 2015. When the home value line pulls ahead of the rent line, the multiplier rises. When rent catches up, it falls.
Over the last twelve months, home values rose 1.2% and rents rose 2.5%, so the multiplier fell 0.2 to 19.1.
Home values go back further than rents. Since July 2000, the typical single-family home value in the Los Angeles metro rose 313%, including a 38% decline between 2006 and 2012.
Los Angeles home values, rents and GRM by year
Every year from 2000, measured each July. Zillow's single-family rent data starts in 2015, so rent and GRM are blank before then.
| Month | Home value | Value change | Rent | Rent change | GRM | GRM change |
|---|---|---|---|---|---|---|
| Jul 2026 | $1,026,764 | +1.2% | $4,483 | +2.5% | 19.1 | -0.2 |
| Jul 2025 | $1,014,124 | +0.5% | $4,375 | +4.1% | 19.3 | -0.7 |
| Jul 2024 | $1,009,392 | +7.9% | $4,203 | +3.9% | 20.0 | +0.7 |
| Jul 2023 | $935,492 | -3.2% | $4,045 | +4.3% | 19.3 | -1.5 |
| Jul 2022 | $966,762 | +15.3% | $3,880 | +11.7% | 20.8 | +0.7 |
| Jul 2021 | $838,394 | +18.0% | $3,475 | +8.1% | 20.1 | +1.7 |
| Jul 2020 | $710,380 | +5.0% | $3,216 | +2.7% | 18.4 | +0.4 |
| Jul 2019 | $676,732 | +0.8% | $3,131 | +4.2% | 18.0 | -0.6 |
| Jul 2018 | $671,359 | +8.6% | $3,006 | +4.2% | 18.6 | +0.8 |
| Jul 2017 | $617,922 | +7.6% | $2,884 | +4.9% | 17.9 | +0.5 |
| Jul 2016 | $574,240 | +5.4% | $2,750 | +5.9% | 17.4 | -0.1 |
| Jul 2015 | $544,905 | +6.5% | $2,598 | n/a | 17.5 | n/a |
| Jul 2014 | $511,432 | +11.6% | n/a | n/a | n/a | n/a |
| Jul 2013 | $458,365 | +17.4% | n/a | n/a | n/a | n/a |
| Jul 2012 | $390,277 | -4.0% | n/a | n/a | n/a | n/a |
| Jul 2011 | $406,461 | -6.6% | n/a | n/a | n/a | n/a |
| Jul 2010 | $435,300 | +2.8% | n/a | n/a | n/a | n/a |
| Jul 2009 | $423,466 | -15.2% | n/a | n/a | n/a | n/a |
| Jul 2008 | $499,147 | -18.5% | n/a | n/a | n/a | n/a |
| Jul 2007 | $612,187 | -2.5% | n/a | n/a | n/a | n/a |
| Jul 2006 | $627,966 | +13.0% | n/a | n/a | n/a | n/a |
| Jul 2005 | $555,556 | +19.2% | n/a | n/a | n/a | n/a |
| Jul 2004 | $465,919 | +26.5% | n/a | n/a | n/a | n/a |
| Jul 2003 | $368,248 | +18.8% | n/a | n/a | n/a | n/a |
| Jul 2002 | $310,034 | +12.9% | n/a | n/a | n/a | n/a |
| Jul 2001 | $274,721 | +10.5% | n/a | n/a | n/a | n/a |
| Jul 2000 | $248,547 | n/a | n/a | n/a | n/a | n/a |
How Los Angeles compares with other large metros
Los Angeles has the 374th lowest multiplier of the 400 metro areas in the data. Here it is against the 10 largest. See every metro on the gross rent multiplier by city page.
| Metro area | GRM | Typical home value | Typical rent | 1-year change |
|---|---|---|---|---|
| New York, NY | 17.7 | $762,197 | $3,580 | 0.0 |
| Los Angeles, CA (this metro) | 19.1 | $1,026,764 | $4,483 | -0.2 |
| Chicago, IL | 12.3 | $380,123 | $2,576 | 0.0 |
| Dallas, TX | 12.8 | $367,541 | $2,385 | -0.6 |
| Houston, TX | 11.5 | $311,367 | $2,251 | -0.4 |
| Washington, DC | 15.5 | $625,503 | $3,358 | -0.4 |
| Philadelphia, PA | 14.2 | $402,162 | $2,361 | -0.1 |
| Miami, FL | 13.8 | $570,162 | $3,441 | -0.4 |
| Atlanta, GA | 14.0 | $388,811 | $2,311 | -0.6 |
| Boston, MA | 17.1 | $783,484 | $3,828 | -0.3 |
What a 19.1 GRM means for rental investors
- The 1% rule would need $10,268 a month on a typical home, 2.3 times the actual rent.
- At 5% vacancy and operating expenses of 36% of collected rent, a 19.1 multiplier implies a cap rate of about 3.2%.
- At the national multiplier of 13.5, the typical Los Angeles rent would support a price of $724,632, against the actual $1,026,764.
- The GRM of 20 page shows the rent a property needs at that multiplier across price points.
A metro multiplier describes the typical home, not the one you are looking at. Run a listing through the GRM calculator and check its cap rate before you rely on the number.
Where these numbers come from
Home values are the Zillow Home Value Index for single-family homes in the middle third of the market, smoothed and seasonally adjusted. Rents are the Zillow Observed Rent Index for single-family homes, a smoothed measure of typical market rent. Both cover the Los Angeles, CA metropolitan statistical area. The multiplier is the home value divided by twelve months of rent. Data from Zillow Research, current through July 2026.
Los Angeles GRM questions
What is the gross rent multiplier in Los Angeles?
19.1 for single-family homes in the Los Angeles metro area as of July 2026. A typical home is worth $1,026,764 and rents for $4,483 a month, or $53,796 a year. Divide the value by the annual rent to get the multiplier.
Is Los Angeles a good market for rental cash flow?
Gross rent covers 5.2% of the typical home price each year, against 7.4% nationally. Rent buys less house here than in the typical US market, so cash flow is harder to find and many investors count on appreciation or buy well below the typical price. Check any specific property's taxes, insurance and dues before relying on the multiplier.
How does Los Angeles rank on gross rent multiplier?
Los Angeles has the 374th lowest single-family multiplier of the 400 US metro areas with enough rent data, as of July 2026. The national figure is 13.5.