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Los Angeles apartment rent growth is accelerating. According to a new report from Apartment List, rent growth has accelerated each month of the year—following rental rate decline in January. With seven consecutive months of rent growth, average apartment rents have increased 1.3% for the year. In July, rents were up .2%. As of July, the median price for a two bedroom in Los Angeles was $1,750.

“The falling rents L.A. experiences from last October through this January are consistent with seasonality in the rental market, as fewer renters mover in the winter months,” Chris Salviati, a housing economist at Apartment List, tells GlobeSt.com. “The subsequent pickup of recent months is the result of heightened demand from the larger number of renters who move during the summer.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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