With space getting tighter, LA rent is expected to keep rising

Report finds US rent averages increased $3 in August to reach the eighth consecutive monthly record
  • Yardi reported national average rent prices increased 5 percent in August compared with the same month last year.
  • Forecasted rent growth in Los Angeles by the end of the year is 7.1 percent.
  • L.A. rent growth is strong, and the job market is keeping pace, with year-over-year growth of 2.5 percent as of June 2016.

The multifamily rental market is starting to reflect the introduction of fall, cooling off but still growing. According to the Yardi Matrix Monthly report, which is a monthly measurement of 120 U.S. markets, August marked the eighth consecutive month of record rent prices.