momopi
Well-known member
http://www.ocregister.com/lansner/rent-671796-percent-month.html
Apartment shoppers aren?t imagining what they?ve been seeing on craigslist.
Big complex landlords boosted their asking rents for new tenants an average of 6.9 percent this past spring, the biggest increase in eight and a half years, California-based apartment tracker RealFacts reported Wednesday.
The average asking rent for Orange County complexes of 90 or more units hit $1,848 a month in the April-through-June period, an all-time high.
RealFacts figures show the Orange County vacancy rate remains virtually unchanged, up slightly to 5.4 percent of all big-complex rentals.
Rising employment and more millennials moving out on their own is boosting demand at a time when homeownership rates remain low due to the housing crisis. Millennials moving out for their parents? homes, they?re more likely to rent than buy, experts say.
And that high demand is occurring pretty much everywhere.
Los Angeles County?s average asking rent rose 8.7 percent in the spring to $2,041 a month. Inland Empire rents were up 8.9 percent to $1,287. Nineteen California metro areas had rent hikes of 5 percent or more.
The Silicon Valley area continues to be the state?s priciest venue for apartments. Average rent there was $2,584 a month. The second highest was in the San Francisco metro area at $2,467 a month.
Orange County?s average asking rent was the state?s fifth highest, after Los Angeles and Santa Cruz counties.
Apartment shoppers aren?t imagining what they?ve been seeing on craigslist.
Big complex landlords boosted their asking rents for new tenants an average of 6.9 percent this past spring, the biggest increase in eight and a half years, California-based apartment tracker RealFacts reported Wednesday.
The average asking rent for Orange County complexes of 90 or more units hit $1,848 a month in the April-through-June period, an all-time high.
RealFacts figures show the Orange County vacancy rate remains virtually unchanged, up slightly to 5.4 percent of all big-complex rentals.
Rising employment and more millennials moving out on their own is boosting demand at a time when homeownership rates remain low due to the housing crisis. Millennials moving out for their parents? homes, they?re more likely to rent than buy, experts say.
And that high demand is occurring pretty much everywhere.
Los Angeles County?s average asking rent rose 8.7 percent in the spring to $2,041 a month. Inland Empire rents were up 8.9 percent to $1,287. Nineteen California metro areas had rent hikes of 5 percent or more.
The Silicon Valley area continues to be the state?s priciest venue for apartments. Average rent there was $2,584 a month. The second highest was in the San Francisco metro area at $2,467 a month.
Orange County?s average asking rent was the state?s fifth highest, after Los Angeles and Santa Cruz counties.
