Orange County Multifamily Market Outlook 2Q 2017
The multifamily housing market in Orange County remained very strong in the second quarter of 2017, maintaining high occupancy while the average asking rent increased. Vacancy was 4.1%, down 30 basis points over the quarter and steady over the year. The vacancy rate is holding steady at one of the lowest rates seen since 2006. Average asking rents for multifamily units rose this quarter, continuing a trend that has seen growth for 28 consecutive quarters.