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Rent growth picking up pace in Southern California this summer
Rent growth picking up pace in Southern California this summer

The rent is getting higher, faster. The average rent in Los Angeles County has climbed 8.8% in the last year, according to a new report out Tuesday from real estate website Trulia, with the median two-bedroom apartment now going for $2,450. That's a significantly faster clip than the 5.4% annual growth Trulia reported in May, a sign that the rental market continues to heat up even as more high-end apartments come on line across the Southland. Rent growth also picked up speed in Orange County, where average rent gained 5.1% to $2,100 for the median two-bedroom apartment, up from 2.8% in May. The rental acceleration comes as price gains cool off in the for-sale market. Indeed, the...

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