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Why Rent Sucks In L.A. And Why It's Expected To Get Worse
Rent in Los Angeles is going to go from bad to worse, according to a new report.The average rent in Los Angeles County right now is $1,716, and they're expected to climb to $1,856 a month by mid-2016, according to a new report from USC’s Lusk Center for Real Estate. That’s a growth rate of 8.2 percent, compared with 3 to 4 percent over the past 12 months.
Part of the problem is we’re in a terrible housing shortage, with only a 3.3 percent vacancy rate in L.A. County. Combine that with stifled wages, and we have what some would call the least affordable housing in the nation.
Before you pack your bags for the Inland Empire or Orange County, you should know rents are going to grow at an even faster rate in those two places, with an 8.6 percent jump to an average rent of $1,806 in O.C. and a 9.9 percent spike to $1,246 in the I.E.
The place with the highest average rent? You guessed it: Santa Monica, at a whopping $2,618 a month, even though rents in Santa Monica/Marina Del Rey actually decreased slightly overall. Downtown ($2,051), Hollywood ($2,006), Palms/Mar Vista ($1,984) and Mid-Wilshire ($1,909) rounded out the five most expensive places to rent in the county. Palms/Mar Vista saw the biggest jump in rent at 11 percent.
Victorville’s sounding doable right about now, where it’s just under $800 a month for the average rent, the lowest the study measured in SoCal.
Southern California's Snow-Capped Mountains Are Beautiful. Here's Where To Maximize The View (And Snap A Great Picture)It's been many, many years since we saw this much snow in our mountains. Going up there right now isn't safe, but here are some places where you can enjoy the view and snap a pic.
April Valentine died at Centinela Hospital. Her daughter was born by emergency C-section. She'd gone into the pregnancy with a plan, knowing Black mothers like herself were at higher risk.
A look at years past when snows creeped into our citified neighborhoods, away from the mountains and foothills.
In the face of a drier future, that iconic piece of Americana is on its way out in Southern California.
Another Missing Hiker Has Been Found Dead In San Gabriels As Search For Actor Julian Sands ContinuesBob Gregory, 62, went missing the same day as Sands. His body was recovered near Mount Islip.