Los Angeles' average rent fell 3% in May from a year earlier as coronavirus infected the economy
Patch (June 7, 2020) -- The average asking rent for an apartment in Los Angeles County fell last month from a year earlier, according to RealPage, a major real estate data provider.
The 3.3% decrease to an average of $2,254 for units of all sizes followed a 0.8% drop in April and reflects how the coronavirus-related economic downturn is sweeping through the rental housing market.
Some landlords and property managers said they're giving concessions such as a month of free rent or dropping their asking price to get units filled as concern over the economy grows.
Read more at: Patch