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Apartment rents have continued to rise this year in Los Angeles. According to a report from Apartment List, apartment rents in the market have increased for five consecutive months, up 1.9% over the same period in 2017. The month-to-month increases, however, have been nominal and the momentum is slowing. In May, apartment rents have increased more than 1% but despite the slowed momentum, the average rent for a two-bedroom apartment is $1,750. By comparison, the national average for a two-bedroom apartment is $1,170.

“The drivers behind month-to-month changes can be a bit tough to pin down,” Chris Salviati, housing economist at Apartment List, tells GlobeSt.com. “I know that L.A. has a fair amount of new apartment inventory in the pipeline, but I’m not sure about the specific timing of when these new units are slated to come online. A spike in new inventory could be one potential culprit for the slight flattening in rent growth over the past couple months.”

Kelsi Maree Borland

GlobeSt

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