Local rent prices hit a record high
Orange County apartment landlords were asking an average of $1,781 a month for vacant units in large apartment complexes in the fourth quarter, up $81 from a year ago to an all-time high, according to RealFacts. Condo's and SFR have gone up even higher!
Orange County is the nation’s seventh priciest rental market!
Tenants are trying to figure out ways to cope with rent hikes.
In October, Mrs.Suarez got a letter saying rent for her two-bedroom apartment in Fullerton would go up to $1,500 a month in February, an increase of $300 a month from what she’s paying now.
I can't afford it,” said Suarez, 65 “If I can’t, I got to move somewhere else.”
RealFacts records show rents have jumped in Orange County for four years. The hikes followed the recession, which pushed many people out of purchased homes and boosted the ranks of renter households.
The biggest increase last quarter was for three-bedroom townhomes, which were up $108 per month, to $2,736 a month, RealFacts figures show. That’s a gain of 4.1 percent from a year earlier.
The biggest increase on a percentage basis was for two-bedroom, one-bath apartments, which jumped 5.4 percent to $1,628 a month.
Newport Beach ($2,271 for apartments of all types) and Irvine ($2,085) continue to have Orange County’s highest asking rents of the 23 cities tracked in the RealFacts’ report.
Many renters have to make the increases up by cutting back on vacations and eating out. Still it's hard.
I have heard that so many times...
If renters only knew just how easy it might be to own their own home, many current renters would have earned tens of thousands in equity instead of paying off their landlords property!
Face it, you are paying for a home, it's just not yours!
Something to think about: If owning a home isn't a good thing, why do you have a landlord?
It's said timing is everything... now is the time to find out if you can own your own home
To find out what you qualify for and the various buyer assistance programs
call: 949-702-5626 or go to WWW.FIRSTTIMEHOMEBUYEREBOOK.COM