SoCal Rent on the Rise
The extensive study covered Los Angeles, Orange, Inland Empire and San Diego counties and showed increased rent prices in all areas.
The report indicates that a possible recovery of the real-estate market may be looming in the near future.
As more young workers find jobs and search for temporary housing, apartment rentals reach capacity and become more expensive. People with good credit beging to search for permanent housing.
The study predicts that average rent prices in Los Angeles county will increase 7.9% this year and will continue to increase to 9.6% by the end of 2013.
Learn more about the USC Lusk Center for Real Estate study here.