Local & Community
Inland Empire Rents Projected to Rise Fastest in SoCal, USC Says
RIVERSIDE (CNS) - Rents in the Inland Empire, which includes Riverside
and San Bernardino counties, are expected to rise faster than elsewhere in
Southern California through 2029 as apartment construction slows, according to
a University of Southern California forecast released today.
The USC Lusk Center for Real Estate's Casden Real Estate Economics
Forecast projects average annual rent growth of 2.4% in the Inland Empire
during the next three years, the highest rate among the five markets studied.
The forecast treats Riverside and San Bernardino counties as a single
Inland Empire market and does not provide separate county-level estimates.
The Inland Empire's average rent was $2,150 in June, the lowest among
the markets studied, and is projected to reach $2,309 by June 2029. Its vacancy
rate was 6.47% in June and is forecast to fall to 5.83%.
The report said the Inland Empire added 12,300 rental units over the
past three years, expanding its apartment stock by about 7%, the fastest growth
rate among the five Southern California markets.
That construction helped moderate rent growth to nearly 1%, according
to the forecast. Most recent development was outside the luxury market, with
Class A apartments accounting for 32% of new supply and most remaining
deliveries in the midrange Class B category.
``Housing cannot be affordable unless we have plenty of it,'' said
forecast author Moussa Diop, an associate professor of real estate at the USC
Sol Price School of Public Policy.
The report cautioned that the area's affordability advantage could be
threatened as construction starts have fallen 60% from their 2024 peak while
the market absorbs recently completed apartments.
``San Diego and the Inland Empire show that there is still hope for
affordability, but meaningful gains take time and sustained development,'' Diop
said.
The forecast projects annual rent growth of 1.4% in Los Angeles
County, 1.9% in Orange County, 1.5% in San Diego County and 2.2% in Ventura
County.
The report cited persistent inflation, elevated interest rates and
high construction costs as obstacles to future housing development.
``Southern California's housing shortage is a problem we created, but
it is also a problem we can solve,'' Diop said.
By: City News Service
November 11, 2026
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