September 4, 2015
North Los Angeles apartments are performing strongly, with rents on the upswing and vacancies lowering.
Rents in the Burbank and North Glendale areas rose 8.6 percent year over year during the second quarter. Meanwhile, vacancy rates in the Panorama Hills/San Fernando/Pacoima areas are very tight, clocking in at a 2.6-percent rate, compared to three percent the year before.
One of the drivers of how well the market is doing is employment in the healthcare and education sectors. Throughout the subregion, vacancy fell from 4.6 percent to 3.7 percent in the last year.