## ED1 rent prices

*June 22, 2024*

QUICK LOOK AT RENT PRICES

80% OF ED1 UNITS COST:

20% OF ED1 UNITS COST:

For comparison, in Council District 1, Rent-stabilized units average between $1,100 and $1,500.

For context, under ED1:

- ED1 buildings are required to have either 100% Low Income units or
- 80% Low Income units + 20% Moderate Income units.
- ED1 projects are not required to build units for Very Low or Extremely Low Incomes
- ED1 projects are not required to take vouchers
- 92% of ED1 units are Studios or One-Bedrooms.

*(**ATC Research**)*80% OF ED1 UNITS COST:

- Studio Low Income = $1766 (majority are this type), can be 165 sq ft
- Studio Moderate Income = $2647, can be 165 sq ft
- 1-Bedroom Low Income = $1892 (majority are this type), can be 350 sq ft
- 1-Bedroom Moderate Income = $2837, can be 350 sq ft
- 2-Bedroom Low Income = $2270, can be 525 sq ft
- 2-Bedroom Moderate Income = $3403, can be 525 sq ft

20% OF ED1 UNITS COST:

- Studio / Single Low Income = $971, can be 165 sq ft
- Studio / Single Moderate Income = $1781, can be 165 sq ft
- 1 Bedroom Low Income = $1110, can be 350 sq ft
- 1 Bedroom Moderate Income = $2035, can be 350 sq ft
- 2 Bedroom Low Income = $1249, can be 525 sq ft
- 2 Bedroom Moderate Income = $2035, can be 525 sq ft

For comparison, in Council District 1, Rent-stabilized units average between $1,100 and $1,500.

*(**Urbanize LA**)*But rent-stabilized units are often larger than ED1 units, resulting in much more livable and affordable units. The prices above generally*double*a tenants rent per square foot, in some cases*triple*it, because the square footage is getting cut in half.For context, under ED1:

- A studio can be 167 square feet, size: a parking space. (Note:
**The Schedule 9 chart says 1 person fits**)***** - 1-bedrooms can be 350 square feet, size: interior of a school bus. (Chart says
**1.5****people fit**) - 2-bedrooms can be 525 square feet, size: two cars next to each other with door open. (Chart says
**3 people fit**) - The average non-ED1 studio is 400-600 square feet. The average LA apartment is 787 square feet.
*****We know of two tenants in a livable-sized, rent-stabilized studio who are being evicted for an ED1 building. Their landlord is giving them their legal right to return to an ED1 unit, which is only to the same bedroom type, not the same size. So the two people will be living in 167 square feet of space.**