Affordable rentals in short supply in O.C.!

By
Mortgage and Lending with Platinum Funding Group, Inc.NMLS-243033 NMLS 4195

The number of renters is on the rise in Orange County, but the number of rentals to choose from isn't keeping up with the rising demand. Orange County renters increased by 15.2 percent from 2005 to 2011. But rental homes in that period increased by just 11.4 percent.
As a result, vacancies have dropped, rents have gone up and competition among house and apartment hunters has gotten intense.
During the past two years, rental vacancy rates dropped to their lowest levels since 2007. Shoppers for apartments in large complexes had 6,400 empty units to choose from at the end of last year, down from 9,500 at the start of 2009...

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