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Commercial Real Estate | IN BRIEF

Southland Apartment Rents Rise Modestly

July 23, 2002|Daryl Strickland

Apartment rents across Southern California rose modestly last quarter from 2001 levels, reflecting a regional economy that is making small gains in employment.

Throughout the six-county region, average rents for apartments in the largest complexes rose by 7% or less, according to a report by RealFacts, a Novato, Calif., research firm.

The biggest increase came in San Bernardino County, where renters paid 6.7% more than a year ago, or an average of $862 per month during the April-through-June period. Orange County recorded the smallest increase at 1.8%, to an average of $1,215. And in Los Angeles County, average rents grew by 4% to $1,248.

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Daryl Strickland

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