Residential lease increases convert renters into buyers

California Association of RealtorsMany demographic groups earn the income required to buy a home, yet persist in renting. ■ Matt McPherson / Columnist Throughout California and the nation, rents continue to rise, causing many renters to consider purchasing a home with a mortgage rate that is the same or lower than what they pay in rent. The monthly rent report from Apartment List, which tracks rent growth, median prices, and market trends, says the average 2-bedroom condo renter in Los Angeles must make more than $100,000 a year to make ends meet. In Riverside, the rents appear to be plateauing, however they have increased 4 percent since last year at this

This content is restricted to site members. If you are an existing user, please log in. New users may register below.

Existing Users Log In