March 27, 2023 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Rent Hike in Los Angeles County Could Push Thousands Toward the Street

A 5 percent rent hike in Los Angeles County would push 2,000 more residents into homelessness, according to a study of the effect of rising housing costs.

The study was conducted by the real estate firm Zillow using census figures and homeless counts for the 25 largest U.S. metropolitan areas. the Los Angeles Times reported.

Research has shown that rising rents drive up homeless rates, particularly in cities with severe housing shortages such as Los Angeles, according to The Times. Zillow said it applied its own rental rate data to the established formula reflecting the connection to come up with new estimates.

The study, citing research that shows weaknesses in street and shelter counts, also said that L.A. County’s homeless population was more than 61,000 in January, compared with the 58,000 reported by local officials after the annual count held that month, The Times reported.

Lending urgency to its findings, Zillow has forecast a 4.5 percent rent increase in Los Angeles for the coming year, according to The Times.

Dennis P. Culhane, a professor and homelessness researcher at the University of Pennsylvania, told The Times the company’s rental data was better than that used in earlier analyses of rent hikes’ effect on homelessness.

“I thought it was an excellent study,” said Culhane, who reviewed the Zillow report. “Few people have access to rental market data like Zillow.”

Related Posts

Valuations for Office Buildings in L.A. Drop 39%

March 27, 2023

March 27, 2023

Transfer tax and low interest rates contributing to decline in L.A. office sales By Dolores Quintana In the city of...

Erewhon Joins Tenants in Fully Leased $150M Culver Steps Development

March 26, 2023

March 26, 2023

Amazon Studios and a ground-floor retail center, including the celebrity and influencer-favorite Erewhon, anchor the 122,000-square-foot complex By Dolores Quintana...

Mid-Century Modern “Dingbat” Style Six-Unit Property in La Cienega Heights Receives Major Renovations

March 26, 2023

March 26, 2023

VF Developments, LLC, in a joint venture with a private investor, repositioned and added capital improvements to bring back its...

Los Angeles County Board of Supervisors Rejects Extension of Tenant Protections

March 26, 2023

March 26, 2023

County Board of Supervisors votes down measure affecting landlords in unincorporated areas. The Los Angeles County Board of Supervisors voted...

California Court Upholds Ride-Share Companies’ Right to Treat Drivers as Contractors

March 24, 2023

March 24, 2023

Proposition 22 exempted ride-share companies from certain labor laws, court rules in favor of the companies By Sam Catanzaro ​​A...

Culver City Police Arrest Juvenile Suspect in Carjacking of Senior Citizen

March 24, 2023

March 24, 2023

Authorities are still searching for a second accomplice Police announced Wednesday that they have arrested one suspect in connection with...

Laguna Niguel Man Accused of Swindling $1.6M From Investors, Including Residents of Playa Del Rey Senior Living Center

March 23, 2023

March 23, 2023

Federal lawsuit alleges John David Gessin used false pretenses to fund lavish expenses By Sam Catanzaro A Laguna Niguel man...

Famed Hinano Cafe in Venice Replaces Sign, Celebrating Sixty Years of Business

March 23, 2023

March 23, 2023

“We put it out to say we’re here for another 60 years,” says owner  By Keemia Zhang The Hinano Cafe,...

Municipalities Are Imposing New Fees and Regulations on Outdoor Dining. Take Our Survey and Share Your Thoughts on This Issue

March 23, 2023

March 23, 2023

The COVID-19 pandemic drastically changed the way we live our lives, and one of the most significant impacts has been...

Assemblymember Jesse Gabriel’s AB 1217 Could Help Local Restaurants Avoid Costly Permitting Fees

March 22, 2023

March 22, 2023

Legislation would preempt local ordinances and preserve regulatory flexibility for struggling neighborhood restaurants By Sam Catanzaro A new bill proposed...

Culver City Expands Ban On Single-Use Plastics

March 22, 2023

March 22, 2023

Regulations require reusable food service ware for dine-in facilities and ban non-compostable food ware for takeout and delivery Effective January...

Culver City Middle School Student Finishes Second in Statewide Songwriting Contest

March 22, 2023

March 22, 2023

Eighth-grader Alaya (Lay J) Johnson recently finished second in the statewide Music Notes student songwriting contest.  Culver City Middle School...

LA Institutions of Learning Offer Free Admission to LAUSD Students Amid Strike

March 21, 2023

March 21, 2023

Natural History Museum and La Brea Tar Pits provide free admission during three-day strike, Los Angeles Zoo and Botanical Gardens...