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O.C. Rents Fell 5% Since 2008

Rents at large Orange County Apartment complexes have fallen 5% in the last year averaging $1,523.

chart That is a decrease of $80 a month and marks the fourth consecutive quarterly year-over-year drop. Nationally the average price of rent dropped 3.7%.

Vacancies fell from the second quarter by 1 full percentage point – the biggest drop in 7 years. The average vacancy at the Orange County complexes was 6.6%, compared to 5.3% a year ago.

Posted by Adam Brett - Fullerton, California Realtor on 10/24/2009 12:40 AM

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1 Comments on O.C. Rents Fell 5% Since 2008

OCT

Our area of Central VA has been over-built with apts and apt condo conversions for the last 4 years and they are SLOWLY getting absorbed.

Our market for SFRs is BOOMING as our "shadow rental homes" were absorbed over the last few years and our sales market is off of "life support and resting corfortably"!!

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