Real Estate News

Costly Living: Renting in Los Angeles and San Diego Far Exceeds National Benchmarks

Renting a house in Southern California is significantly more expensive than the national average, with Los Angeles County rents being 76% higher and San Diego County rents 90% higher, according to CoreLogic’s single-family rental indexes. In February, the average rent for a three-bedroom house in Los Angeles was $3,607 per month, while in San Diego it was $3,896. These costs place Los Angeles as the fourth-highest and San Diego as the second-highest among 20 U.S. cities tracked. Although rents in these areas are high, the report notes that the rate of rent increases is slowing. Los Angeles saw a modest 1.2% increase over the past year, and San Diego’s rent rose by 3.1%, both lower than previous years’ increases and below the national rent growth rate of 3.4%.

SOURCE: THE DAILY NEWS

Costly Living Renting in LA

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