DataMarkets & Economy

Los Angeles rental growth concentrated in select markets, report says

HomeUnion measures health of US economy and investment conditions in top metros
  • South and Midwestern cities concentrated the list of markets with the biggest opportunity for return.
  • Los Angeles rents are expected to increase 3.3 percent in 2016, following a 5.4 percent increase in 2015.
  • L.A.'s job market is forecasted to see an addition of 80,000 jobs to the local community in 2016.

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The multi-family and single-family rental markets are continuing to make headway throughout the nation, according to a report recently released by HomeUnion. While the end of 2015 was somewhat rocky for the U.S. economy, it has regained traction through the start of 2016 to prepare itself for what economists believe to be a promising year. An interest rate hike is still expected from the Federal Reserve following the late 2015 bump that was the first increase seen in the past decade. On top of that, employment and the labor market are having a good year. Rental demand and investor opportunity By calculating job growth figures and supply and demand in cities throughout the nation, HomeUnion ranked the top cities on combination of investment opportunity and return in 2016. Jacksonville took the top spot, followed by Charlotte and Indianapolis. Southern and Midwestern cities were represented on the list for biggest opportunity, with Milwaukee also getting a top spot. Fort La...