Inland Empire Apartment Rents Flatten Following Prolonged Rapid Growth

Apartment rents in Southern California's Inland Empire were flat month over month in October and November following 18 months of rent growth that peaked at 18.7% during the summer. Rents jumped above $2 per square foot during that period, but the asking rate could be a barrier to further growth and signal an end of COVID-driven demand with a return to market fundamentals that existed pre-pandemic.