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Apartment Market Cooling, Rents Stabilizing

ORANGE COUNTY, CA-Rents in the Orange County multifamily sector have leveled off as occupancy levels continue to drop, according to a recent report by RealFacts.

By Erin Cassin | Updated on January 25, 2002

ORANGE COUNTY, CA-Despite a significant amount of sales activity in recent months, Orange County’s apartment sector is showing signs that it may be beginning to cool down. Rents here have stabilized as vacancy levels continue to rise, according to a new report by research firm RealFacts.

The average rental rate in Orange County stood at $1206 in December 2001, as compared to $1204 three months earlier, according to the RealFacts report. The average rent increase for 2001 was 3.6%, with two-bedroom/one-bathroom units showing the largest increase at 5.9%. Studio units increased rents at the lowest rate of 2.5%.

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