Two More Years of Apartment Rent Increases

LOS ANGELES-The 2012 Casden Multifamily Forecast from the University of Southern California Lusk Center for Real Estate reveals a strong performance for the local multifamily market in 2011 and predicts more growth over the next two years. The annual checkup, which was presented Thursday morning, analyzes four apartment markets—Los Angeles, Orange, and San Diego counties and the Inland Empire—showed across-the-board improvements in rents and vacancy rates in 2011.

USC Casden Forecast author Tracey Seslen emphasized that rent growth in 39 of the region’s 40 submarkets is a sharp contrast from two years ago when only three submarkets saw increased rents, as well as last year when 26 markets showed flat or growing rents.