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Feel bad for Southern California's tenants as vacancy tightens and rents climb Daily News

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Apr 15, 2019 11:08 AM 5+ day ago

Feel bad for Southern Californias tenants as vacancy tightens and rents climb

Los Angeles-Orange County is the 7th hardest place in the nation to find an empty rental. Inland Empire? No. 17 out of 75 big markets.

Their options are limited. Rents are soaring. And constructing a solution -- both literally and figuratively -- is nearly impossible to pull off, politically and economically.

Last year in Los Angeles and Orange counties, only 4% of the rental supply was vacant, the No. 7 tightest market among 75 major metro areas tracked in a new Census Bureau report.

That's tighter than 2017, when 4.1% local units were empty, again No. 7 nationally. And that followed 2016 when L.A.-O.C. had the nation's lowest vacancy rate at 2.9%.

Locals who chose to look inland for a rental were likely disappointed. Yes, there are relatively more choices as vacant units equaled 5.1% of the rental supply in Riverside and San Bernardino counties in 2018. But that's ...

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