Rents are growing fastest in the Valley and Southeast LA.
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.
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