Apartment rents in L.A. and Orange counties soared to an average monthly cost of $1,441 during the third quarter, according to a study released today by RealFacts.
Rents in Los Angeles and Orange counties, the most expensive apartment market in the state, were 6.3 percent higher than the year ago July through September period. Occupancy was 96.3 percent, up nearly 1 percent from a year ago.
L.A.’s rents are higher and are rising more steeply than statewide. In California the average monthly rent was $1,258 at the end of the third quarter, up 4.1 percent from the same year ago period. Statewide, apartments were on average 95.4 percent occupied, 0.8 percent higher than the year ago period.
The top five most expensive rental markets in California:
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