Record Apartment Rents Persist In Los Angeles, But Growth Has Stalled Los Angeles County’s multifamily market is slowing, but renters in the area are still paying record rates for places to live. Preliminary data shows that vacancy rates in the region are creeping up and rents, though technically growing, are doing so at a fraction of a percentage point. The monthly average rent rose to $2,164 per unit, preliminary data from NAI Capital shows. That figure represents another record high on the surface, but it is also a mere 0.7% increase from the same time last year. 
“When you look at the absolute number, it's still a historical high. You can't deny that figure,” NAI Capital Managing Director of Research J.C. Casillas said.The slowdown is a continuation of trends seen at the end of 2022, when record rents and slowed rent growth, then in the single digits,…  Read the full story here. | | |
