Rents projected to rise in southern California

Strong economy, high demand create housing crunch

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Southern California’s strong economy, continued immigration and a shortage of new units will drive up the region’s apartment rents an average 6 to 8 percent over the next two years, according to the Casden Real Estate Economics Forecast released today by the University of Southern California Lusk Center for Real Estate.

In 2003, monthly rents averaged $1,300 in Los Angeles County, $1,260 in Orange County and $900 in Riverside and San Bernardino counties.