The apartment rental market still has a lot of life left in it. Average residential rents will rise between 3% and 6% this year as occupancy rates go up, too. The USC Lusk Center for Real Estate says rents are being driven up by young professionals and immigrants who are streaming into the area. In L.A. County, the average rental rate for a two-bedroom apartment will increase by 4% to $1500 in 2005.
