LA has one the highest apartment occupancy rates in the nation. There isn’t enough new rental housing being built. Rents will continue to rise as the average home price is too high for most young people who can’t afford to buy, so they rent. According to the US Census Bureau, LA overall apartment vacancy rate was 4.1% in 3rd quarter 2015, down from a peak of 6% in 2010. It is a strong bull market for investors and developers of apartments.