‘Explosive growth’ leads to record-high rents for Southern California apartments

Southern California apartment shoppers are still struggling to find an affordable place to rent, with few units available and rent hikes in the double digits across the region, new apartment figures show. ‘Increase like no other’ Apartment tracker surveys also tend to be higher than the overall market because they’re based on rents for newly available units and don’t include rent hikes for existing tenants who renew their leases. Meanwhile, rents are rising even faster in Orange County and the Inland Empire, with the biggest gains over the past year than in the previous 20 years, according to CoStar figures.

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