Matrix Multifamily Los Angeles Report-June 2024 June 25, 2024

Los Angeles’ Slow Economy

Los Angeles’ employment market contracted 0.1 percent in the 12 months ending in February, while the U.S. rate increased 1.5 percent. Short-term advertised rents benefited from seasonal movement, inching up 0.1 percent on a T3 basis to $2,584 in April, lagging the 0.3 percent national advertised rate.