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Huntington Beach is currently leading the Los Angeles market for apartment rent growth. According to a new report from Yardi’s Rent Café, Huntington Beach apartment rents increased 10.8% year-over-year in May, the fastest rental rate growth in Southern California. Los Angeles and San Diego also saw rental rate increases, and Pasadena boasted the most significant month-over-month gain with a 1.7% increase in May.

“In the past 10 years, Huntington Beach and Pasadena have had around 5,000 renter households. We looked at apartment construction rates for the past decade and noticed both cities have seen below 2,500 new units delivered – still a healthier number than other areas in Southern California, like the Inland Empire,” Alexandra Ciuntu of Rent Café tells GlobeSt.com. “In addition, the supply that did come to completion in the past five years mostly constituted of high-end apartments. This could indicate that demand in this particular sector may have influenced average monthly rents in both areas as Huntington Beach had the most significant annual rent growth and Pasadena had the fastest monthly increase.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. He work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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