LOS ANGELES (CBSLA.com— The rent is too damn high – again.

Rents hit a new multiyear high in December as limited supply and high demand pushed costs higher, the U.S. Department of Labor reported Wednesday.

Rents rose 4 percent – the strongest yearly gain since December 2007, the month the Great Recession began – compared to December 2015, according to the department.

Particularly on the West Coast, rents are appreciating at a high pace. The largest increases included 9 percent in Long Beach and 7.9 percent in Riverside.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From K-EARTH 101

K-EARTH Surf Pig
28 Free Things To Do in L.A.
Totally 80s Friday Night

Listen Live