Yay! L.A. Rents Have Decreased ... a Little
After years of depressing headlines about how impossible Los Angeles housing has become, there's a little tiny bit of good news this spring.
The just-released Apartment List Rent Report for April says rent decreased a whopping 0.9 percent compared with March.
"Rent decreases in Denver, L.A., Houston and Austin in April are an encouraging sign for renters," the site said in a statement.
Apartment List wonders aloud if millennials are being priced out of big cities and "migrating to more affordable cities."
That's about all the good news we have, however.
Comparing April 2016 rents to the same time last year, the listings site found that L.A. lease prices have actually gone up 4.1 percent.
And, on a national scale, L.A. is still in the top 10 for big cities with the highest rents.
"Los Angeles comes in seventh for most expensive rents, with a median two-bedroom price of $2,610," Apartment List states.
The highest rents in the nation belonged to San Francisco; New York; Jersey City, New Jersey; Washington, D.C.; and Boston.
Meanwhile, if you're apartment hunting in L.A., this might be a good time to commit to a lease.
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