What's Up? Rents in Southern California for the 11th Straight Month

Photo by Lucyrk via the LAist Featured Photos pool on Flickr

Rent checks have been going up eleven months in a row in Southern California, The Orange County Register reports.

In July, rents rose at an annual rate of 1.4 percent in the Southland, continuing a steady rise since they took a dip in 2010.

But it might too soon to ask Jimmy McMillan to open a West Coast branch of The Rent Is Too Damn High Party. The paper noted, "It's been pretty good for local renters, historically speaking."

Rents rose at an average annual rate of 4.5 percent in the last decade, until the economy hit the skids. And it was even worse in the 1980s when Southern California the average rent rose more than 12 percent some years. Yikes.

More silver lining from the consumer price index: gas prices are declining.

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By Emma G. Gallegos in News on August 24, 2011 2:20 PM

Comments [rss]

PicoPhreako69

Hmm... guess I'm luckier than most, then.
My place is in Pico-Union near Alvarado, and it's only gone up once in 3 years.
But that may change....

C

I believe it, greedier and greedier, my landlord keeps raising my rent every year, and the units that go up for rent are overpriced and it isn't a nice building or a great area in Hollywood. My neighbors have had to get room mates and we all work more than one job just to make ends meet whereas a couple of years ago we all were on our own in our one bedrooms and had one full time job. Even the not so safe areas are over 1000.00 a month. This is crazy how are we supposed to keep up when everything has gone up so much.
There are some smart landlords that have been holding off raising rents in this economy to keep the loyal tenants.