The Orange County market had a record year of rent growth in 2021, growing nearly 18% year-over-year. While the average rent has increased since last year, it is growing at a slower rate of 7% thus far into 2022. This may indicate that the pandemic’s implications are starting to normalize as rent growth approaches pre-pandemic levels. By the end of 2019, just months before the pandemic, the average asking rent in Orange County was $2,067 compared to today, where the average asking rent is $2,639, roughly a 28% increase to today. With the incredibly low vacancy rate of 2.4% in Orange County, the apartment market remains strong, and multifamily investments remain stable.
The Orange County rental market sees signs of stabilized rent growth after a strong surge in 2021.
TMG Mid-Year Market Report - Orange County 2022 Q2Friday, July 1, 2022
Over $700 Million in Revolving InventoryView Full Inventory
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