Southern California Rent Growth Outpaces National Average in May

Southern California rents surged 5.1%, outpacing the national 3.8% rise, driven largely by the Los Angeles wildfires that destroyed over 12,000 structures and reduced housing supply. Additional factors include low housing stock and a 4.4% local wage increase. This sharp rent inflation worsens affordability and highlights the need for long-term housing resilience in climate-vulnerable areas.