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Cities in the Los Angeles area are seeing lower rents as Orange County prices hold firm or even increase. Experts are calling for more tenant protections.
In Tarzana, a landlord is asking $17,500 a month to rent a 3,000-square-foot home with a pool and a view of the Santa Monica Mountains, a 9.4% increase from the price at which it was offered in ...
The shortage is statewide; from 2010 to 2017, the state added one new housing unit for every five new residents, and is pronounced in employment centers such as the Bay Area and Los Angeles. [15]: 1 [16] In 2023, housing affordability in California reached a 16-year low, with only about 16% of homebuyers able to purchase a median-priced single ...
In the U.S. on average, rent prices for one- and two-bedrooms increased by 1.2% over the past month -- the first time monthly growth rates have exceeded 1% in the past 20 months, Zumper reported....
The Tenant Protection Act of 2019 caps annual rent increases at 5% plus regional inflation. [51] For example, had the bill been in effect in 2019, rent increases in Los Angeles would have been capped at 8.3%, and in San Francisco at 9%. [51] The increases are pegged to the rental rate as of March 15, 2019. [51]
Rental vacancy rates, for example, which are one marker of the balance of housing supply, have declined across the country. While, in a balanced market, rental vacancy rates should fall between 7 and 8 percent, only one U.S. census region, the South, achieved target levels on average in its metro areas as of 2021.
Eviction rates are rising across the nation, with filings up more than 50% than the pre-pandemic average in some cities, according to the Eviction Lab. At the same time, rents are soaring. Real ...
The Tenant Protection Act of 2019 caps annual rent increases at 5% plus regional inflation. [7] For example, had the bill been in effect in 2019, rent increases in Los Angeles would have been capped at 8.3%, and in San Francisco at 9%. [7] The increases are pegged to the rental rate as of March 15, 2019. [7]