June 26, 2025 Breaking News, Latest News, and Videos

Stagnant Rent Growth Forecasted for Westside Cities and Neighborhoods

Lusk Center for Real Estate at USC releases annual study

By Dolores Quintana

The Lusk Center for Real Estate at USC has revealed its annual Casden Real Estate Forecast for multifamily rental properties in the state of California for the first time since 2019. In the Westside area, from Beverly Hills to the coasts, the forecast is that rents will remain slightly in decline for 2022. 

The drop is slight at 1 percent, but as the report states, “The farther one gets away from the City of Los Angeles, the greater seems to be the potential for rent growth.” The trends seen in 2020 and 2021 were renters moving to the suburbs, since the pandemic got underway, resulting in large projected growth in rental prices outside of Los Angeles and lower rates of availability for rental properties in suburbia. The central and coastal areas of Orange County, Ventura County and San Diego County are all projected to have strong rental price gains. The north county of San Diego, Simi Valley and the south eastern area of Orange County near Irvine are projected to have some of the largest gains closer to Los Angeles. However, of all of the suburban areas, the farthest from the center of Metropolitan Los Angeles namely in the Palm Springs and Indio, western Riverside County, and finally the Rancho Cucamonga and San Bernardino areas have the highest projections for rental rate gains that are nearly in the double digits. The Casden Forecast Report states, “The model forecasts modest further rent declines from downtown Los Angeles moving west to the Pacific Ocean.”

This report cautions that “forecasting in a time of uncertainty is problematic and can indeed be misleading” which lead to the postponement of a forecast in 2020. They believe that “the world is more stable” and that a forecast is now possible with caveats. Their prediction is that the current trends will begin to retreat over the next two years. 

Another factor that has affected the “move away” trend is the lockdown that forced businesses to allow their employees to work from home. It was no longer necessary to commute to remain employed, and as the report states, “The shuttering of office buildings and amenities such as restaurants reduced the willingness of tenants to pay a rent premium in centrally located places.” and furthermore the report notes, “When commuting ceases to happen and places to gather are not available, renters will find less expensive, larger apartments in what are generally less convenient locations more appealing and will thus move.” Low mortgage rates contributed as well, however prices have again risen to a level where it isn’t any less expensive to own a house versus renting a property. The most astonishing development involves the fact that California has lost population for the first time since the state was founded in 1850. Deaths from the pandemic and smaller amounts of immigrants arriving from other countries and residents moving to other places are all part of the drop in population.

If Los Angeles manages to reach the herd immunity level through vaccination, the report states that “we may expect some, and perhaps substantial, reversal of the population flows [sic] from the central parts of the region to the more suburban parts. If this happens, we might see modest rent growth in central markets and slow rent growth at the periphery.”

<>Related Posts

Gladstones to Reopen After Suffering Partial Fire Damage, Offers Discounts to Locals

June 26, 2025

June 26, 2025

The eatery returns with a remodeled deck designed by an award-winning architect and a new mural Gladstones, a beloved seaside...

Cherished Culver City Ice Cream Vendor Abducted in Broad Daylight

June 26, 2025

June 26, 2025

Ambrocio “Enrique” Lozano’s Disappearance Led To Grassroots Action Ambrocio Lozano, also known in the neighborhood as Enrique, was abducted around...

Tony P’s Dockside Grill to Close This Weekend After 28 Years in Marina del Rey

June 26, 2025

June 26, 2025

In a farewell letter, Palermo described the closure as “bittersweet,” expressing gratitude for decades of community support. Tony P’s Dockside...

 (Video) Main Street Gears Up for Celebrations, Invites Palisadians for 2025 July 4th Parade

June 26, 2025

June 26, 2025

The Event–Which Celebrates 150 Years of Santa Monica Cityhood–Runs from City Hall Down Main Street Main Street Gears Up for...

Santa Monica Police Arrest Shooting Suspect After Officer Ambushed Near Downtown Mall

June 25, 2025

June 25, 2025

Man Linked to Waymo Vehicle Gunfire Taken Into Custody Following Tense Manhunt The suspect wanted in connection with a shooting...

Palisades Flowers Raises Over $10K, Nears Goal After Fire Destroys Shop

June 25, 2025

June 25, 2025

The blaze claimed the shop’s delivery van, tools, plants, and flowers, erasing a space that Phipps said was more than...

(Video) WISE & Healthy Aging Helps Loved Ones Boost Their Quality of Life

June 24, 2025

June 24, 2025

See How the Nonprofit’s Innovative Programs Advance the Dignity of Life for Older Adults See How the Nonprofit’s Innovative Programs...

(Video Recap) Pride Returns to Third Street Promenade with LGBT-Friendly Booths, Games and Entertainment

June 24, 2025

June 24, 2025

Pride on the Promenade Was One of Several LGBT+ Events to Celebrate Pride Month Throughout the Charter City Over the...

Masked Federal Agents Detain Iranian Asylum Seeker and Wife in Westwood

June 24, 2025

June 24, 2025

31-Year-Old Woman was Hospitalized After Possible Medical Emergency On Tuesday, June 24, between 11:00 a.m. and 11:30 a.m., near the...

Burglary Suspects Sought in Santa Monica Coffee Shop Burglary

June 24, 2025

June 24, 2025

Police noted a similar burglary occurred at Amai Coffee three months ago, and a nearby business, Dr. T House Santa...

(Video) Food Fight: Chefs Join Forces to Raise Money to Protect Immigrant Families in Venice

June 24, 2025

June 24, 2025

Estrano, Little Dynamite, Sunday Gravy, Kabob Senpai Answer the Call From Turk’s Pizza Party. Dave Turkel Put This Food Resistance...

(Video) This is Downtown Palisades Six Months After the Devastating Wildfires

June 24, 2025

June 24, 2025

With Only a Few Businesses Remaining and Reopened, The Once-Idyllic District is Still Mostly Charred Remains With Only a Few...

Former Ontrak CEO Sentenced to Prison in $12.5M Insider Trading Scheme

June 24, 2025

June 24, 2025

CEO Receives Federal Prison Sentence for Misusing Stock Trading Plans Terren Scott Peizer, the former CEO and board chairman of...

Planning Commission Approves 18-Story Residential Tower on 6th Street, Rejects Environmental Appeal

June 23, 2025

June 23, 2025

The 194-foot-tall building exceeds local height limits by 109 feet under California’s Density Bonus Law The Santa Monica Planning Commission...

Shooting at Waymo Car Injures Two Juveniles in Santa Monica

June 23, 2025

June 23, 2025

Preliminary findings suggest the shooting was a targeted, isolated incident stemming from a verbal altercation earlier that evening between the...