The cost of renting in Southern California was growing at least 5% a year in January, according to a slice of the local Consumer Price Index.
The U.S. Bureau of Labor Statistics’ CPI tracks rental costs by polling consumers vs. other rent measurements that usually come from surveys of major apartment landlords. And the CPI shows lots of financial challenges for local renters.
In Los Angeles and Orange counties, the cost of renting one’s primary residence grew at a 5% annual rate in January. That’s down from 5.1% a year earlier but extends a monthly streak above 5% dating to December 2018.