U.S inflation rates impacts rent on the Central Coast
CENTRAL COAST, Calif. – U.S inflation continues to soar, and Central Coast residents are feeling the impact on rent costs.
The U.S Bureau of Labor Statistics reports an increase of 8.5% over the last 12 months.
According to Rent.com, the average rent in Santa Barbara has increased by at least 48% in the last year and at least 15% in San Luis Obispo.
The website says the average rent for apartments in San Luis Obispo, is between $1,750 and $3,300 in 2022.
The average rent for apartments in Santa Barbara, is between $2,750 and $4,250 in 2022.
Tune in on News Channel 3-12 to hear more about what non-profit organization People's Self Help Housing has to say about the housing crisis on the coast.
