October 16, 2015
Apartment fundamentals are strong in Los Angeles for the most part, according to a recent report by research firm Axiometrics. Occupancy in Los Angeles County’s commercial real estate sector, for example, is very strong throughout the area, trending in excess of 95 percent.
Year-over-year rent growth was strongest in the Palmdale-Lancaster areas, rising 10.8 percent in September. It was followed by North Hollywood-Studio City-Sherman Oaks, which was up nine percent. Meanwhile, the lowest increase was in Hollywood-Los Feliz, which only saw a 3.3-percent rise.
The North Hollywood-Studio City-Sherman Oaks submarket also saw the highest occupancy, at 96.8 percent.
Tags: Apartments & Multifamily