Renting an apartment in Southern California is our of reach for so many—and it’s about to get a lot more expensive.
That’s according to a USC Casden Economics Forecast released this week. USC Lusk Center for Real Estate Director Richard Green, who co-authored the forecast says COVID-19 caused a large-scale move from central cities to the suburbs that resulted in a sharp rise in apartment vacancies…and while vacancies are coming back down in the urban areas, not so much in the suburbs . The forecast claims that by the end of third quarter in 2023, rents will increase by $252 over today’s rents in Los Angeles County, $410 in Orange County, $310 in Ventura County and $241 in the Inland Empire..