Los Angeles rents on the rise

Data showing renters occupy 10,975 households in 90042 (Eagle Rock, Highland Park), with a rent burden of 33%  

According to a recent report, the vacancy rate in Los Angeles has dropped down to just 3.3%. The shortage of housing is, as expected, causing a rise in the cost of rent at a rate of more than 8% (to an average $1,957 per month) by June 2016.

The past four years, rent has increased in Los Angeles as much as 3.9%. But the past 12 months has seen a surge in demand for rentals, and it's not going to slow down despite the addition of over 7,500 multifamily units in the city - another study shows the County needs 500,000 additional apartments to meet demand.

With this demand, it's a great time to invest in multi-unit properties. Call me today to start looking for your investment property - 323.898.2991.