LA Area Rent Increases Slow to 1.65% as Demand Cools and Market Stabilizes

Rents in LA, Orange County, and Long Beach up just 1.65% year-over-year, lower than expected
Experts say rental market is stabilizing and returning to normal pre-pandemic seasonal changes
Decreased demand could be fueling stabilization, with fewer people moving
LA rents hit peak from 2020-2022, increasing over 14% or $450/month on average
Renters advised to negotiate, price check nearby units, and look in fall/winter when rental activity is slower

cbsnews.com

Relevant topic timeline:

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Posted 9/20/2023, 8:40:00 PM