One year ago, Congress defunded public media. Now that we're 100% community funded, please become a sustaining member or increase your existing membership today.
This archival content was originally written for and published on KPCC.org. Keep in mind that links and images may no longer work — and references may be outdated.
LA rents becoming more affordable in 2017, legislative analyst says
The California Legislative Analyst's Office reports that Los Angeles and other major metros in the state are seeing an improvement in rent affordability in 2017.
(
Justin Sullivan/Getty Images
)
(
California Legislative Analyst's Office
)
(
California Legislative Analyst's Office
)
Listen
0:58
LA rents becoming more affordable in 2017, legislative analyst says
Being able to afford rent is at its worst historically in Los Angeles, but a new analysis suggests there's a glimmer of hope in 2017.
Rents have actually gotten a little more affordable so far this year, according to the California Legislative Analyst’s Office.
"For the average person, their income has gone up a little bit quicker than their rent did last year," said Brian Uhler, an analyst at LAO.
(
California Legislative Analyst's Office
)
Uhler said demand for rental housing had been rising because the housing supply couldn’t keep up with the job growth driving competition for rentals. But he said a pickup in residential development is relieving some of the pressure.
"I think that’s starting to balance out a little bit, coupling that with the fact that job growth has started to temper somewhat," Uhler said.
He said fewer people are having to move for jobs and seeking apartments.
Sponsored message
The improvement in rent affordability has been modest. Last year, renters, on average, put about 45 percent of their paycheck toward the rent. This year, it’s 44 percent.
That's still extremely high given that financial experts regularly advise that housing should not exceed 30 percent of income.
But Uhler says after a decade of soaring rents, this shift in affordability is definitely worth noting.
Almost all of California's eight major metros posted improvements in rental affordability.
(
California Legislative Analyst's Office
)
Sacramento was the only major metro to see rent affordability worsen. Uhler said the area is seeing renters fleeing the Bay Area for the comparatively less expensive housing prices in the state capital.
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Senior Vice President News, Editor in Chief
