June 5, 2006
As for rents, Los Angeles topped the charts with a $1,416 figure, followed by Orange County at $1,390. The Inland Empire actually came in about $100 less than San Diego County at $1,012, but the rents are climbing there, too. Still, it remains cheaper to rent than own in many, if not most cases. "The recent run-up in home prices makes apartment living more desirable," said Delores Conway, director of the Casden Real Estate Economics Forecast in a prepared statement. "And the tight supply of land coupled with more condo conversions means fewer available units. That translates into higher rents and occupancy rates for the next couple of years."