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SoCal Rents Up 2 Percent Over 2011, 47 Percent Over 2002

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Good news, landlords! Rents are continuing to climb in Los Angeles and Orange Counties and they're way above where they were even five years ago during the go-go times. The OC Register reports on the Bureau of Labor Statistics's latest Consumer Price Index, which shows that rent on a primary residence "jumped 2 percent in June from the year before, the biggest percentage increase since June of 2009." Rents have been on their way up for 22 straight months, since things turned around in August 2010--they've increased 3.3 percent in the intervening years. Average rents are also up 9.9 percent over five years ago and almost 47 percent over 10 years ago. Yeah, nearly half--go ahead and consider what your 2002 rent might've looked like for your current place and die a little.
· SoCal rents see biggest jump in 3 years [OC Register]