Orange County home and property leasing numbers are up.
Costa Mesa leads Orange County CA with highest proportion of rental units and has the highest percentage of rentals among 15 largest cities (according to U.S. Census Bureau as of 2010).
- Costa Mesa – about 57 percent of 43,000 housing units occupied by tenants and not homeowners
- Santa Ana - about 50 percent of housing units are rentals
- Anaheim – about 50 percent of housing units are rentals
- Irvine - 49.9 percent of housing units are rentals
- Yorba Linda - 16.4 percent of housing units are rentals
- Mission Viejo – 23.2 percent of housing units are rentals
- Lake Forest – 30.7 percent of housing units are rentals
Orange County - 40.8 percent of 986,297 occupied housing units are rentals (59.2 percent of homes are owner-occupied)
Orange County home rental rates began climbing in 2008 and reached a decade high of 40.8 percent of units during 2010. Apartment construction pushed overall home building permits in Orange County during 2011 and caused the number of multi-family building permits to be up while developers got building permits for 2,465 multifamily housing units (apartments and multi-story condos).
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Source of information is OCRegister.com - October 2, 2011 - Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage - 949-854-7747 (phone) – ExploreProperties@gmail.com (email) - CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – also now serving as an appointed director at the California Association of REALTORs®.
