Thousands are leaving Los Angeles year after year. This is why we still have a housing crunch

Los Angeles County has lost about 400,000 residents since 2016 while home prices and rents have nearly doubled, intensifying a housing crunch. The population decline is not a mass exodus, but it raises concerns about reduced political influence and a smaller tax base. Housing costs remain high even as home values dip slightly and vacancy rates rise slightly. Experts point to smaller household sizes, persistent underbuilding, and reluctant homeowners as key drivers. As lower-income residents are priced out and wealthier newcomers move in, the wealth gap widens. The result is tighter vacancies and stubbornly high costs, along with questions about who can afford to live in the city.

"Los Angeles County has shed about 400,000 residents since 2016, yet home prices and rents have nearly doubled, leaving a shrinking population still battling an acute housing crunch. Experts say smaller households, entrenched underbuilding and reluctant homeowners help explain why more units house fewer people, keeping vacancies tight and costs stubbornly high despite the so-called California exodus. As lower-income residents are priced out and wealthier newcomers move in, L.A. faces a widening wealth gap, potential loss of political clout and questions about who gets to call the city home."

"It's not exactly a mass exodus, but L.A.'s shrinking population is enough to leave a few economists shuddering at the long-term implications of so many people skipping town: less political influence, a smaller tax base, etc. But amid the Southland's sea of change, one thing seems to always stay the same: Housing is still expensive. Typically, population declines and aging housing stock conjure visions of Rust Belt decay, where land loses value and abandoned homes sell for next to nothing. But in L.A. - despite vanishing Hollywood jobs and immigration crackdowns - housing costs remain sky-high."

"This year, the region has seen a slight dip in home values and a slight uptick in vacancy rates. But L.A. County's population has been whittling down for the last decade, with 400,000 people leaving since 2016. During that stretch, home prices and have nearly doubled. What gives? Experts say a few factors are at play, but there's one sneaky trend that's often overlooked: household composition."

""People are moving out of L.A., but households are becoming smaller, so the number of households that require housing is actually rising," said Stephanie Hawke, associate research director of land use and supply at the Terner Center. Hawke said the nu"

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