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<\/a><\/p>\nPhoto by Roberto Nickson<\/a> on Unsplash<\/a><\/em><\/p>\n The median rent for a one-bedroom apartment in Los Angeles declined for the fourth consecutive month in July to $2,140, according to the latest <\/span>Zumper National Rent Report<\/span><\/a>.\u00a0<\/span><\/p>\n Month-over-month, prices fell by a slight 0.5 percent but compared to July 2019, rents are down four percentage points. The typical one-bedroom apartment rented for $85.60 less than the same period one year ago.<\/p>\n Two-bedroom rent sank 0.3 percent from June to July to a median of $2,970. On a year-over-year basis, the median asking price plummeted 6.9 percent, amounting to a difference of $204.93.<\/p>\n Zumper points to a \u201csqueezing effect\u201d on the US rental market in which historically pricey metros are becoming more affordable, while median rents in historically inexpensive metros tick up.<\/p>\n \u201cThis effect has continued to accelerate this month as COVID-19 persists on and more Americans are opting for cheaper places to live while working from home or away from their offices,\u201d explains the report.<\/p>\n