Rent is rising in many California’s cities, except for this specific rental type – KRON4

In news that surprises probably no one: rent is on the rise in California.

Data from Rent.com, an “apartment search engine and online marketplace,” found that rent in a number of cities is increasing significantly year over year.

In Los Angeles, studio and two-bedroom rentals are up 4% from last year; three-bedrooms are up 3%.

The research shows that average rent for apartments in Los Angeles is between $2,262 and $5,095 in 2022, according to Rent.com.

But despite the rising average rent prices, there are some weird quirks in the data. While rentals on average are going up, a certain specific type of rental is actually on the decline: one-bedroom apartments.

In Los Angeles, the rental price of a one-bedroom apartment is down more than 15% from last year.

Now on average, one-bedroom rentals in L.A. are up 3%, but that includes all different types of rentals, not exclusively apartments, as Rent.com explains.

“My immediate takeaway is that the houses, townhouses and condos for rent in…

Read Full Story: https://www.kron4.com/news/rent-is-rising-in-many-californias-cities-except-for-this-specific-rental-type/

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