Apartment Rents Still Rising

Apartment rents throughout the western United States are on the rise amid tougher borrowing standards that have made it more difficult for many people to buy a home.

The Novato-based research firm RealFacts says the average cost of renting an apartment in September increased from last year in all 20 major Western markets covered in a quarterly survey.

The severity of the rent increases varied, rising by double digits in Silicon Valley and Seattle, while hovering in a range of 1 percent to 2.5 percent in much of California's Central Valley, Las Vegas and Colorado Springs, Colorado.

Los Angeles and Orange counties remain the West's most expensive metropolitan market to lease an apartment, with September rents there averaging $1,630 - up 5.5 percent from last year.

A look at average rents in major Western markets as of Sept. 30
and the percent change from previous year:

- Los Angeles/Orange counties: $1,630, 5.5 percent
- San Jose, Calif.: $1,622, 11.9 percent
- San Francisco/Oakland: $1,551, 7.6 percent
- Ventura County, Calif.: $1,548, 5.1 percent
- San Diego: $1,363, 5.2 percent
- San Bernardino/Riverside counties: $1,159, 2.7 percent
- Solano County, Calif.: $1,141, 1.3 percent
- Seattle: $1,057, 10.7 percent
- Sacramento, Calif.: $961, 1.6 percent
- Denver: $882, 3.2 percent
- Las Vegas: $881, 2.2 percent
- Reno, Nev.: $875, 3.4 percent
- Portland: $838, 6.8 percent
- Phoenix: $815, 3.2 percent
- Fresno, Calif.: $793, 3.8 percent
- Salt Lake City: $769, 9.7 percent
- Boise, Idaho: $730, 3.7 percent
- Albuquerque, N.M.: $715, 5.0 percent
- Colorado Springs, Colo.: $715, 1.0 percent
- Tucson, Ariz.: $662, 3.1 percent

Source: RealFacts Inc.


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