Expect a 3.9% Rent Increase When the Moratorium is Lifted
Bureau of Labor Statistics in June released the latest year-over-year change in consumer prices (CPI) and to nobody’s surprise the cost of living is on the rise! From May of last year to May of 2021 the cost of the ‘all items’ basket of goods and services as measured by CPI in our region is up 3.9%. Once the pandemic ends the rent will rise too — and very likely by 3.9% for rent-stabilized households in Beverly Hills. That would be the highest allowed annual rent increase in three years and it will come right on the heels of the pandemic.
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