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In 2019, apartment rents in Los Angeles plateaued after several years of substantial growth. The trend continued through the end of the year with a modest .4% increase in apartment rents overall, according to research from Apartment List. While rents have stalled, average lease rates in Los Angeles for a two-bedroom apartment still exceed the national average at $1,759 per month compared to $1,192 per month.

“Year-over-year rent growth in L.A. is currently 0.4%, trailing the national average of 1.4% and representing a notable cool down in rent growth compared to recent years,” Christopher Salviati, housing economist at Apartment List, tells GlobeSt.com. “This cool down is likely attributable in large part to new construction. The number of new multi-family housing units permitted in the L.A. metro surpassed its pre-recession peak in 2015, and despite slowing down a bit since then, it has maintained a robust pace. As these units hit the market, the new supply helps to ease constraints on a tight housing market.”

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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. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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