Decade of rent hikes end in L.A., Orange counties

|

The Orange County Register (August 3, 2020) -- Almost 10 years of sustained rent hikes came to an end in Los Angeles and Orange counties during the spring, thanks in part to the coronavirus pandemic and to new construction.

Following 39 quarters of rent increases, the average asking rent for an L.A. County apartment fell $33 a month in the spring from the winter quarter, dropping to $2,122, figures from the Southern California News Group rent index shows. L.A. County rent also dropped $1 from the spring of 2019.

By comparison, Los Angeles landlords averaged a rent hike of $18 a month every quarter since the spring of 2010.

In Orange County, the average fell $27 from winter to $2,066 a month, the index showed. The average increase from one quarter to the next was $16 a month during the past decade. Rent increased from a year earlier, but by a mere $6.

Read more at: The Orange County Register

Shares
Share Icon