Southern California rent hikes are cooling, by Consumer Price Index math.
My trusty spreadsheet found the trend after reviewing the rent slice of the much-watched inflation measurement for 22 large metropolitan areas and the nation.
By this math, tenants in Los Angeles and Orange counties paid 3.2% more in September than a year earlier, the eighth-largest gain among the 22 metros tracked. Inland Empire rent was up 3.1%, the ninth-largest gain, and San Diego County rose 2.7%, the 13th-largest gain.
Now, many housing gurus dislike the CPI’s rent index because they feel its backbone, surveying all renters about what they pay, captures both old and new leases. But that’s exactly what I think makes it a valuable counter to many industry-favored metrics that tell you what landlords are currently asking for empty units.
And no matter what you think of this rent yardstick, you have to watch it because it’s a significant chunk of the overall CPI calculation.
Statistical debate noted, two of the three local rent inflation rates exceeded the nation’s 2.8% increase, with hikes across the 22 American metros ranging from Honolulu’s 5.4% increase to Phoenix’s 1.3% decrease.
The good news is these CPI rent-index hikes are smaller than what local tenants saw last year. A wobbly economy and a construction boom forced numerous landlords to compete to fill units.
For all of 2025, L.A.-Orange County’s 4% gain was the eighth-largest of the 22 metros, the Inland Empire’s 5% gain was second, and San Diego’s 4.8% gain was third.
Nationally in 2025, rents rose 3.5% — from Chicago’s 5.2% to Phoenix’s 1.3% decrease.
This year’s hikes also offered tenants a welcome respite from the sharp increases seen during the pandemic era.
L.A.-Orange County’s 3.9% gain in 2020-2024 was modest among the 22 metros, ranking fifth-lowest. But the Inland Empire’s 6.3% gain was fifth-highest, and San Diego’s 5.5% gain ranked seventh-highest.
Nationally, rents rose 4.9% in 2020-2024 – from Tampa’s 8.4% jump to San Francisco’s 2.2% increase.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com
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