Los Angeles Apartment Rents Fall Flat

Los Angeles

Los Angeles apartment rents are officially stagnant, after a year of nominal ups and downs. According to a new report from Apartment List, apartment rents in Los Angeles were flat month-over-month at an average of $1,760 for a two bedroom. Rent growth is also flat for the year; however, some standout submarkets within the region continue to see rent growth. Stagnant rent growth is the current trend for rents in Los Angeles.

“Los Angeles rents seem to have reached their ceiling for the time being. On one hand, the city of Los Angeles had strong construction in 2018, increasing supply,” Igor Popov, chief economist at Apartment List, tells GlobeSt.com. “On the other, demand is slowing as families look for more affordable places to live. Many renters are moving further inland in search of lower rents, and any market exodus eases rent pressure.”