As Office Work Returns, the L.A. Apartment Market Is Expected to Heat Back Up – The Hollywood Reporter

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I felt like there wasn’t much reason to be in a city if I couldn’t leave my apartment and go to work,” says Sean Campbell, an assistant at talent and literary agency Verve, who went to visit his family in Novato, California, during the pandemic and ended up staying, trading in Los Angeles cityscapes for mountain biking and access to nature.

And he’s not alone. As agencies, studios and most companies in and outside entertainment worked from home for the past 15 months, large swaths of 20-somethings left Los Angeles behind, moving back in with families or into cheaper, less-central areas to save on costs.

The city’s rental market felt that hit. “There was no demand to move into these more urban areas with everything shut down,” says Apartment Guide managing editor Brian Carberry. Apartment Guide’s May 2021 Rental Report found that L.A. has the second-biggest decrease in one-bedroom rent prices year-over-year, behind only…

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