Rents in the Los Angeles-Long Beach-Anaheim metro declined 2.0% year-over-year in November 2025, signaling a cooling rental market but affordability remains a challenge. Two minimum-wage earners must work about 67 hours weekly to afford median rent. Nationally, rents fell 1% with median rent at $1,693, still 17.2% above pre-pandemic levels. Renting remains cheaper than buying, though the gap is narrowing due to lower mortgage rates.