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North O.C. draws largest rent hikes

October 17th, 2008, 12:30 pm · 13 Comments · posted by Jon Lansner

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Our review of a new quarterly rent report from RealFacts, which tracks 489 Orange County apartment complexes, shows tenants in North County cities suffering the largest rent increases.

  • Buena Park, Fullerton, Orange and Cypress led the pack — all had 3% or better rates of rent hikes at the large complexes tracked by RealFacts. Countywide, average rent was up 1.9% from a year ago.
  • Hardest places to find empty apartments were Stanton, Cypress, Buena Park, Fountain Valley, La Habra, Anaheim and Newport Beach. All had 96% occupancy rates or better. Countywide occupancy was 94.7%.
  • Countywide, Stanton has the lowest rent at $1,312, up 1.7% in a year. Highest is Newport Beach at $1,983 — down 2.7%.

Here’s how the major cities RealFacts tracks fared in the third quarter for occupancy and the percentage point change in a year; and average rents and the percentage change in a year. Chart is ranked by rent increases …

City Occupancy Pt. chg. Rent % chng.
Buena Park 96.2% -0.9% $1,345 4.8%
Fullerton 93.8% -3.5% $1,422 4.3%
Orange 94.9% 7.2% $1,632 3.3%
Cypress 96.3% -2.5% $1,425 3.0%
Anaheim 96.0% -0.3% $1,331 2.8%
Laguna Niguel 95.5% -1.7% $1,615 2.7%
Costa Mesa 95.6% -1.7% $1,651 2.5%
Irvine 93.5% -2.0% $1,914 2.4%
Westminster 92.4% -4.0% $1,441 2.3%
Santa Ana 94.0% -1.9% $1,406 1.7%
Stanton 97.1% -0.4% $1,312 1.7%
Mission Viejo 95.7% -0.9% $1,509 1.3%
Garden Grove 95.2% -2.3% $1,377 1.2%
Huntington Beach 95.6% -1.3% $1,500 0.7%
Brea 94.9% 0.3% $1,426 0.7%
Fountain Valley 96.2% -0.6% $1,464 0.6%
La Habra 96.2% -0.6% $1,341 0.6%
Tustin 94.5% -2.0% $1,564 -0.3%
Rancho Santa Margarita 94.5% 0.9% $1,522 -0.3%
Aliso Viejo 95.0% 2.4% $1,723 -0.4%
Lake Forest 94.9% -0.5% $1,540 -1.0%
Placentia 94.3% -0.7% $1,456 -1.5%
Newport Beach 96.0% 1.3% $1,983 -2.7%
O.C. 94.7% -1.1% $1,603 1.9%

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 13 Comments

  • honky says:
    October 17, 2008 at 1 pm

    I HOPE HWOOD’S RENT GO UP BY 1000% BECAUSE HE MAKES SO MUCH MONEY HE CAN BUY ALL OF NEWPORT BEACH.

  • rants says:
    October 17, 2008 at 2 pm

    mr mortage told those who would listen exactly
    what was going to happen to the mortgage market
    last december— heres the post

    http://blogs.marketwatch.com/greenberg/2007/12/straight-talk-on-the-mortgage-mess-from-an-insider/

    hes now saying theres even more trouble coming
    from alt-a’s and prime- do you dare ignore him this time?

    1998 here we come right back where we started from

  • Sergio says:
    October 17, 2008 at 2 pm

    LOL @ Honky. Glad I don’t live in North OC…

  • NanoWest says:
    October 17, 2008 at 3 pm

    Home prices will be at 1998 levels in about 3 years…..in absolute dollars.

  • rants says:
    October 17, 2008 at 3 pm

    hey blogger just how can a “landlord” raise
    rents on tenants who are losing their jobs?
    did they explain that conundrum at wharton?

    http://ocbiz.freedomblogging.com/2008/10/17/oc-job-loss-worst-in-14-years/4072/

    on a side note- where are all the permabulls that used to
    frequent this blog? hey blogger can you try and get gary
    “in the bag” watts or pat “real data” veling back for
    some more of their pearls of wisdom lloolll @ribsplitter

  • honky says:
    October 17, 2008 at 3 pm

    rants:
    it just means that you have been right all along.

  • honky says:
    October 17, 2008 at 3 pm

    and yes DEFLATION is possible nowaday…

  • Mikey Likes It says:
    October 17, 2008 at 10 pm

    Notice everyone, rents can not increase because Rants the big authority says so. Never mind the data.

  • rants says:
    October 17, 2008 at 10 pm

    hey mikey– are you stupid..
    the MARKET determines rents— not me
    you may now go back to watching wheel of fortune

    one thing I will guarantee– the more the government gets
    involved with anything the worse it will become– just sit
    and watch as they proceed to royally screw up the economy

    http://www.financialsense.com/fsu/editorials/schiff/2008/1017.html

  • Mulliganville says:
    October 17, 2008 at 10 pm

    lol…indeed. commence cyberbullying.

  • Quigley says:
    October 18, 2008 at 7 am

    Rents in HB being at an avg of $1500 for 2 bed apt, given also that normalized rent (annual) to buy (total) is 1:15, then price for 2 bed condos will be $270,000 at the bottom of the market.
    Estimated price to rent a 3-4 bed house in HB is $2350/month, then the market bottom will be at $423,000 for a SFR in Huntington Beach. Right now prices for that sort of home are between $465,000 and $500,000 with a large grouping around $479,000. So the good news is that the market bottom is finally within sight, with only about $56,000 to fall. I’ve noticed that prices seem to be falling at a rate of about $5,000/month, so we’ll hit “bottom” in a mere 11 months! That has to be good news for bulls.

  • Samson says:
    October 18, 2008 at 4 pm

    I live in Nroth OC, my rent has gone up. I cant tell you the number of people I have seen move out of here, with no one moving in. I am in fact thinking about asking my complex to lower my rent…since I am pondering moving into a bigger Apt. until this market plays itself out.

  • Charcoal says:
    October 19, 2008 at 2 pm

    I is tired of my rents going up!!