LA rent rising high despite mediocre job growth

  • Yardi Matrix's monthly survey report of 119 markets found rents rose in price by double digits for the third straight month, and $10 for the month of June.
  • Renter by necessity growth increased to above 8 percent in Los Angeles, while lifestyle renter growth hit around 7 percent.
  • By the end of 2016, rent growth in LA is expected to be at 7.1 percent.

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U.S. apartment rents have increased for the third-straight month, according to Yardi Matrix’s monthly survey of 119 markets. June rent rates increased by exactly $10, or 0.9 percent, to another all-time high of $1,213.