The Current Rental Market Trends in Greater Los Angeles
The Current Rental Market Trends
The most common question AAGLA gets from members is: What is happening in the rental market?
Below is an informative article from the Los Angeles Daily News* on the fluctuating rents in the Greater Los Angeles area, Inland Empire, and Orange County. 📈📉
🔗 Link: See where rents are falling or rising in LA, Inland Empire and Orange County via @ladailynews
According to the data gathered by Apartment List's index, Orange County continues to experience rent hikes, even after 13 consecutive years of year-over-year increases. On the other hand, rents in Los Angeles County are showing a downward trend, while some areas in the Inland Empire are experiencing both ups and downs.
In Los Angeles County, rents have declined in eight out of the nine cities tracked, reflecting some relief for renters. However, in Orange County, as of January, average rents have risen in 12 out of the 13 cities analyzed by Apartment List. While this indicates opportunities for landlords, it may present challenges for those seeking affordable housing options.
Here are a few notable findings from the article:
🌆 L.A. County cities:
- Burbank: $2,036; -3.8%
- Glendale: $2,159; -0.6%
- Long Beach: $1,751; -2.8%
- Los Angeles: $2,055; -4.0%
- And more...
🍊 Orange County cities:
- Aliso Viejo: $2,913; 2.6%
- Anaheim: $2,255; 1.2%
- Costa Mesa: $2,390; 1.0%
- Irvine: $2,971; 2.3%
- And more...
🌴 Inland Empire cities:
- Chino: $2,289; 0.8%
- Chino Hills: $2,847; 3.6%
- Corona: $2,303; 0.4%
- Moreno Valley: $1,889; -2.8%
- And more...
It is our job to stay informed on the changing rental landscape and we do this by staying informed with the latest insights and data. Understanding these trends is crucial for landlords, property owners, and renters alike.
*SOURCES:
COLLINS, J. | JeffCollins@scng.com | Orange County Register
Daily News. (2024, March 11). See where rents are falling or rising in LA, Inland Empire and Orange County. Los Angeles Daily News. Retrieved from https://www.dailynews.com/2024/03/11/see-where-rents-are-falling-or-rising-in-la-inland-empire-and-orange-county/
#ApartmentLiving #RentalMarket #RealEstateTrends #LArentals #OrangeCountyRentals #InlandEmpireRentals #RentPrices #AffordableHousing #PropertyManagement #LADailyNews #ApartmentAssociation #HousingMarket #RentStatistics #MarketInsights #StayInformed