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In this March 18, 2015, photo, visitors arrive for the grand opening of Gibson Santa Monica, a new luxury apartment building in downtown Santa Monica, Calif. The average U.S. rent has climbed 14 percent to $1,124 since 2010, according to commercial property tracker Reis Inc. (AP Photo/Richard Vogel)
Photo by: Richard Vogel
In this March 18, 2015, photo, visitors arrive for the grand opening of Gibson Santa Monica, a new luxury apartment building in downtown Santa Monica, Calif. The average U.S. rent has climbed 14 percent to $1,124 since 2010, according to commercial property tracker Reis Inc. (AP Photo/Richard Vogel)

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