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

  • 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.

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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.