Real Estate & Home

Los Angeles Rents Hit 3-Year Low-but Most Residents Still Can't Afford Them

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Los Angeles County rents have dropped 3.7% year-over-year to $2,520, marking a three-year low due to increased multifamily construction and new small rental units entering the market. Despite this decline, median rents remain unaffordable for many residents, requiring an annual income of over $107,000. Developers should monitor policy changes like rent stabilization ordinances that could further impact market dynamics and affordability.

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