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Annenberg School of Communication and Journalism University of Southern California

Study Shows Rent is Still Increasing in L.A.

The USC study shows that rent has been on the rise for the past four years. ATVN's Christina Savan has all the details. 

The USC Lusk Center for Real Estate released their annual USC Casden Multifamily Forecast on Tuesday, which tracks how the Los Angeles County rental market has changed over the past year. 

Their report shows that rent has been increasing for the past four years in L.A. County. Over this past year, rent has increased by 3.9 percent and now sits at an average of $1,716. The highest average rent is $2,618 in the Santa Monica submarket.

Rent has increased in 16 of the 20 different submarkets of Los Angeles in the past year. 

Class of 2016 biophysics major, Angeolyn Dayrit says that her friends who have just graduated are feeling the heat of the rent increases.

“They have had to move to surrounding areas like Culver City and Glendale," said Dayrit.

L.A. isn’t the only area facing these increases. Rent has also increased by 3.2 percent in Orange County, 2.8 percent in San Diego, and 4.1 percent in the Inland Empire. 

The University Gateway apartment complex, located just off of USC’s campus, has raised its rent from $999 per bed in a 2-bed/2-bath room for first-time renters last year, to $1030 per bed this year. 

“Parking is outrageous too,” said a USC senior living at West 27th. “It has gone up $100 over the last two years that I have lived here.”

The USC Casden Forecast predicts that rent will continue to increase over all four of these areas for the next two years. 

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