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LA rents are sky-high, but growing more slowly now

February 3, 2020

Rents are growing fastest in the Valley and Southeast LA.

Elijah Chiland

The cost of rent in Los Angeles County is high by nearly any measure; but in 2019, growth of rent prices tapered off, according to data from commercial real estate tracker CoStar.

Over the course of the year, the average price of a one-bedroom apartment inched up by $39, or 2.2 percent. Two-bedroom prices rose $45 on average, or 2 percent. In the final quarter of the 2019, the average cost of rent stood at $1,773 for one-bedrooms and $2,257 for two-bedrooms.

These figures best represent what prices renters might expect to find when moving to a new unit (not necessarily what longterm tenants are already paying). The average yearly price increase for both one- and two-bedroom apartments was the lowest in the last five years.

The data support a trend observed by researchers at USC’s Lusk Center for Real Estate, who noted last year in an annual forecast that rent growth was “trending down” across Southern California.

The authors of th

Elijah Chiland