INLAND EMPIRE – (INT) – Right on the heels of a report that home ownership has fallen to a 20-year low comes word that rates for residential rents are accelerating.

The local supply of new apartments coming on the market is much less than in Los Angeles.

Nick Grotjahn at RealFacts explains what that means for renters.

“The Inland Empire’s lack of new apartments means that owner-operators can be more aggressive with raising rents. Apartment construction is picking up and trying to fill a void caused by a lack of development between 2009 through 2012.”

The Inland Empire rents have increased 5.7 percent the past year.

Story Date: November 5, 2014