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California Rents are Spiking - and in Places You Might Not Expect

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"Data from the Bureau of Labor Statistics’ consumer price index for the Los Angeles area showed that in April, housing costs were up 5.4% from the year before and renters were spending 3.7% more for their primary residence compared with April 2021.

Online searches for “rent increases” have been rising, with Californians leading the way in the last week, according to Google Trends data.

But rent surges aren’t unique to the Golden State. According to the CPI for urban customers, the rent index increased 0.8% in June across 75 U.S. urban areas, the largest monthly increase since April 1986. The CPI was calculated using monthly prices for 6,000 housing units and 22,000 retail establishments."

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