Rents are going up! Up! Up! The San Fernando Valley Business Journal notes the escalating rents and tight apartment market afflicting the Valley.
Over the past year rents have climbed an average of 4 percent in the Valley with rents for two-bedroom, one bath apartments climbing to a dizzying $1,419 per month during the second quarter of the year. Glendale and Studio City lead the pack with the highest average rents of $1,677 per month and $1,657 per month, respectively. Valley citizens remained indoors under their air conditioning, unable to take to the streets in outrage.
· Apartment Occupancy Rates, Rents Rising [San Fernando Valley Business Journal (Subscription)]