Santa Clarita ranked 15th for rent growth

Cur­rent me­dian rate for a two-bed­room is $2,564, and a one-bed­room goes for $1,995, ac­cord­ing to Apart­ment List

The Signal - - FRONT PAGE - By Crys­tal Duan Sig­nal Staff Writer

A na­tional study re­leased this week in­di­cates Santa Clarita’s rent growth rate from year to year was 4.9 per­cent from 2015-18. This makes it the 15th most ex­pen­sive city out of the 250 big­gest in the coun­try.

Apart­ment List, an on­line plat­form con­nect­ing renters with apart­ment list­ings, re­vealed this month that the cur­rent me­dian rate for a two-bed­room in Santa Clarita is $2,564, and a one-bed­room is $1,995. The na­tional av­er­age for a twobed­room is $1,170.

Santa Clarita’s month-tomonth rent change is at 0.6 per­cent, ac­cord­ing to the site.

This is the fourth straight month the city has seen rent in­creases since a de­cline in Jan­uary. The rate cur­rently leads the state av­er­age of 2.2 per­cent, as well as the na­tional av­er­age of 1.5 per­cent.

In pre­vi­ous years, a twobed­room was $2,445 in 2017, $2,341 in 2016, and $2,186 in 2015. Santa Clarita pre­vi­ously ranked at No. 72 in 2017, No. 45 in 2016 and No. 46 in 2015, with year-to-year growth rates of 4.4 per­cent, 7.1 per­cent and 6.9 per­cent for those re­spec­tive years.

Much of the SCV’s rent growth can be at­trib­uted to a gen­eral growth in pop­u­la­tion in the Los An­ge­les metro area, said Chris Salviati, an Apart­ment List hous­ing econ­o­mist.

Of the largest 10 cities in the greater L.A. area, nine, in­clud­ing Hunt­ing­ton Beach, Irvine, Lan­caster and L.A. proper, have seen prices in­crease.

Job growth and a dis­pro­por­tion­ate num­ber of apart­ment de­vel­op­ments may have

con­trib­uted to Santa Clarita’s higher rent prices, Nancy Star­czyk, a Santa Clarita re­al­tor and board mem­ber of the South­land Re­gional As­so­ci­a­tion of Re­al­tors, told The Sig­nal in a re­cent in­ter­view.

“Young peo­ple are look­ing to rent more than be­fore, be­cause they can’t af­ford a house now,” she said. “Rent­ing is a step­ping stone to home own­er­ship. But for young peo­ple, it’s hard to save up for a down pay­ment. Peo­ple have loans and stu­dent debt they can’t han­dle. The costs of liv­ing have gone up too, mak­ing it hard for peo­ple to save any money.”

Salviati said he be­lieved the L.A. metro as a whole would con­tinue to see gen­er­ally above-av­er­age rent growth through­out the year. He also con­firmed Santa Clarita was among the more ex­pen­sive cities in the L.A. metro, but the one area of L.A. County with a lot of new de­vel­op­ment.

Cory Ru­bin/The Sig­nal

Santa Clarita’s rent growth rate from year-to-year was 4.9 per­cent from 2015-18. Cur­rent me­dian rate for a two-bed­room in Santa Clarita is $2,564.

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