USC report: Average LA rents will go up $91 by 2020
Curbed L.A.featured research by USC’s Lusk Center for Real Estate on rising rents in Los Angeles. The average renter will spend a little over $90 more per month on housing in 2020 than in 2018, according to the report. “The way to raise vacancy rates is to build more,” said Richard Greenof the USC Price School.
There is a poor match between people’s housing cost and incomes right now, and no amount of sorting will, by itself, fix this issue,” Richard Green, director of the Lusk Center and a co-author of the study, said in a statement.
Green suggests the key to housing affordability in Southern California is ensuring that vacancy rates continue to rise.
“The way to raise vacancy rates is to build more,” Green said.