Orange County Q4 Multifamily Market Report: Orange County Closes 2019 on an Upswing


  • The fourth quarter was a strong period for the Orange County apartment market, with vacancy tightening and rents rising. Construction has been active as developers bring new units to the market to meet renter demand.
  • Multifamily vacancy in Orange County ended 2019 at 3.7 percent. The rate dropped 20 basis points in the fourth quarter and fell 30 basis points from one year earlier.
  • Asking rents rose 2.9 percent in 2019, ending the year at $2,000 per month. The strongest gains of the year were recorded during the fourth quarter.
  • In 2019, the median price reached $317,500 per unit, while cap rates averaged approximately 4 percent. Prices rose and cap rates compressed during the fourth quarter.

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