L.A.rents: We're No. 1

The Los Angeles metropolitan area remained the state's most expensive rental market in the third quarter, an industry tracker said Wednesday. Gregory J. Wilcox in the Daily News.

During the July through September period, rents increased an annual 5.5 percent to an average $1,630 in the Los Angeles/Long Beach/Santa Ana metropolitan area, said RealFacts.com. The occupancy rate decreased an annual 1 percent to 96.5 percent.

The region's been the most expensive market for more than three years, said RealFacts spokesman Chris Bates. He's not surprised that apartments here are in demand.