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|October 17, 2017|
Rents skyrocket in 'cheaper' cities
INLAND EMPIRE – (INT) – Renters are paying the most in Rancho Cucamonga among the region’s ten most-expensive cities. RentCafe’s monthly list placed the West End community at $1722.
While Rancho Cucamonga was the most expensive, rent increases the past 12-months added up to 2.9 percent, the slowest in the 10-city survey.
Previously inexpensive Victorville hit the $1,000 mark for the first time as rents soared 8.1 percent, the fastest among the inland cities.
Corona, Ontario, Murrieta and Temecula rounded out the top 5 most expensive to rent. All were above $1500.
In the region’s two largest cities, Riverside and San Bernardino posted gains of at least 4 percent.
RentCafe noted that housing stock is pushing to the limit. Development in the Inland Empire isn’t as widespread as it needs to be to meet demand. ‘Moreover, apartment living is attracting more and more Millennials and Baby Boomers by offering flexibility and convenience,’ RentCafe reported.
Story Date: August 16, 2017