The average cost of a two-bedroom apartment increased .7% in May year-over-year. The month markets four consecutive months of year-over-year rent gains in the market this year, according to research from Apartment List. The average cost of a two-bedroom apartment is $1,750, compared to the national average of $1,190.
While rents increased year-over-year, they remained flat month-to-month. However, nearly all L.A. submarkets within the metro are seeing rental gains for the year, with nine of the 10 largest cities in the market reporting rental increases.
For 2019 to-date, rent growth in Los Angeles is at 1.2%. This lags behind the national average of 1.5% rent growth.
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Kelsi Maree Borland
