USA News

Apartment rent hikes: Where were Southern California’s biggest jumps in May


“Rent check” offers a snapshot of the financial challenges tenants face in Southern California’s tight housing market — and how costs vary across the region.

Buzz: Big-city apartment rents rose for the 19th consecutive month in May.

Source: My trusty spreadsheet reviewed ApartmentList’s monthly rent estimates for the 21 largest cities tracked in the four-county region. ApartmentList’s estimates include asking rents from its own online listings plus pricing data from government sources.

The big picture

Big-city rent: $2,067 — up $14 in one month and $284 higher in a year. That’s a population-weighted average of rent indexes for the 21 Southern California cities.

One-month change: 0.7% gain vs. average 0.4% increases in the previous six months. Yes, getting worse!

12-month change: 15.9% jump vs. average 17.4% increase in the previous six months. That’s painful, but … there’s a tiny slowing in the year-over-year pace of increases.

5-year rent inflation: 4.2% annualized gains. As you can see, the current market is by no means normal.

The cityscape

Let’s look at the extremes of the market at the city level, starting with overall rents …

File source

Show More

Related Articles

Back to top button