Because of the economic downturn and continuing unemployment, the average monthly apartment rent in Orange County, CA has dropped from 2008 approximately 7%. Hardest hit in the area has been Fountain Valley, suffering an 11.4% drop. Despite the significant drop in rental rates, owners have still been struggled to fill the vacancies in their buildings. To compensate, concessions on the part of the owners have become practically a requirement. Free months of rent, appliances and utilities have all become commonplace in a market that is doing anything possible to lure prospective renters to fill vacancies.
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