SoCal Rents Expected to Jump Over Next Two Years
A new USC Casden Real Estate Economics Forecast predicts rising rents throughout Southern California by the end of the third quarter in 2023.
The study predicts that rents will rise by $252 to an average of $2,325 in Los Angeles County. Orange County can expect the highest increase of $410, leading to average rents of $2,849. In San Diego County, rents will rise by $348 to an average of $2,492. With an increase of $241, rents in the Inland Empire will hit $2,068. Rents in Ventura County will also increase by $310.
The researchers predict triple-digit increases in communities like Rancho Cucamonga, Oxnard, and North City where vacancy rates are extremely low.
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