SoCal big-city apartment rents rose for the 19 consecutive month in May, according to one tracking of what tenants are paying.
Long Beach at $1,667, Los Angeles at $1,889, and Pomona at $1,942.Corona at 2.2%, Moreno Valley at 2%, and Temecula at 1.8%. This is more evidence of an inland migration.Yes, a few cities saw small slips — West Covina, down 0.8%, Costa Mesa, down 0.6% and Burbank, off 0.2%.Santa Ana at 22.1%, Irvine at 21.2%, and Fullerton at 19.3%. Orange County’s high wages and low unemployment often balloons rents.Rancho Cucamonga at 10.6%, Long Beach at 12.6%, and Santa Clarita at 13.7%.
Moreno Valley at 8%, Rancho Cucamonga at 6.2%, and Pomona at 6.2%. Again, apartment dwellers are flocking inland.Los Angeles at 1.4%, Burbank at 2.3%, and Glendale at 2.4%. Let’s politely say that L.A. County has an image problem with renters.The sliver of good news? Rents fell in six of the 21 cities from April to May, the most one-month dips in five months.
One example: The Consumer Price Index for Los Angeles and Orange counties shows the cost of renting in 2022’s first four months is up 3.43% in a year. In 2021, rent inflation ran at 1.24%. The CPI is drawn from a survey of consumers in a wide range of rental arrangements. And while the rent inflation rate may seem low, but the
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