LOS ANGELES – A lingering housing shortage will continue to fuel rent increases for the next two years across Southern California, according to an annual USC study released Wednesday.

According to the Casden Real Estate Economics Forecast released by the USC Lusk Center for Real Estate, vacancy rates remain low at Southern California rental properties, hovering around 5% in Los Angeles County and 4% in Orange County.

The forecast noted that rent rose by just 0.5% in Los Angeles County this year, settling at an average of $2,336 as of October, according to the report. The vacancy rate was listed at 5.37% as of October. The report’s authors predicted that the average rent will rise by 0.64% over the each of the next two years, reaching an average of $2,350 by October 2027.

In Orange Count

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