Rents in Southland Forecast to Keep Rising
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Average asking rents and occupancy rates in Southern California’s apartment market will continue to rise steadily this year, with average rent increases of 3.5% to almost 6%, according to a forecast to be released today.
The average rental rate for a two-bedroom apartment should rise to about $1,500 in Los Angeles County, $1,520 in Orange County and $1,080 in the Inland Empire, according to data compiled for the Casden Real Estate Economics Forecast from USC’s Lusk Center for Real Estate.
“The new supply of apartments has not kept up with demand from newcomers,” said forecast director Delores Conway.
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