Southern California apartment rents are expected to get even pricer over the next two years, as demand increases along with job growth, a report released Wednesday said.
In Los Angeles County, average rents in 2018 are forecast to hit $2,304, up 3% from the previous year. In 2019, rents are expected to climb another 3%, to $2,373, according to the annual USC Casden Real Estate Economics Forecast.
Similar increases are expected in Orange County, where the average rent is expected to rise to $2,157 in 2019.
So far this year, rent growth has actually slowed in both counties. Averages in the second quarter rose 1% over the previous year, compared with the 6% and 5% increases seen in 2016.
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