USC report: Rent hikes on tap for LA, OC
Renting an apartment in Los Angeles and Orange counties will be getting more expensive, with a USC Casden Economics Forecast released Thursday predicting continuing rent increases over the next two years.
While Los Angeles is projected to have a relatively moderate rent increase of $100, apartment rents are projected to increase an average of $184 in Orange County, according to the forecast.
The annual report from USC Lusk Center for Real Estate assesses current market conditions and makes two-year projections for multifamily rents and vacancies in Southern California.
Richard Green, director of the Lusk Center, noted that the forecast was somewhat uncertain due to fluctuations in inflation, rising interest rates and relocations.
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