LA County rents near 5-year low as resi supply increases

Los Angeles County renters are getting a break, with asking rents falling to their lowest level in nearly five years as a wave of new apartment construction eases pressure on the market. The county’s median asking rent dropped to $2,603 in the second quarter, down 3.4 percent from a year earlier and the lowest level since the end of 2021, according to Realtor.com’s Q2 rental report. The decline marks a 9.6 percent drop from the market’s 2022 peak, saving the typical renter about $276 per month compared to peak pricing. The relief comes as multifamily development and accessory dwelling unit […]

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