Study finds Los Angeles has fifth highest rent in the nation

LOS ANGELES (FOX 11 / CNS) - Apartment rents in Los Angeles are the fifth-highest in the nation, according to a study released Monday.

ABODO.com, a website that helps tenants find apartments, found that the average monthly rent for a one-bedroom apartment in L.A. was $2,194 in January, behind Boston ($2,423), San Jose ($2,508), New York ($2,953) and San Francisco ($3,536).

But the study did also have some good news for Angelenos: rent in the city has fallen an average of 5.5 percent over 2016, according to Adobo.com.

Nationally, the average rent price was $1,001 in 2016, the study found.

Copyright 2017 FOX 11 Los Angeles: Download our mobile app for breaking news alerts or to watch FOX 11 News | Follow us on Facebook, Twitter, Instagram, and YouTube. Be a citizen journalist for FOX 11 and get paid - download the Fresco News App today.