Early this week, rent comps in Orange County showed that Lake Forest had a huge decrease in the rental price of apartment of 11.4% as displayed by realfacts.com. Affecting this reduction, surrounding cities such as Brea, Aliso Viejo, Orange, Placentia and Fullerton, also had decreases in their rental prices. Realfacts.com compared these cuts nationwide and found that apartment rentals, on average are down by $105. What does this mean for today’s investor?
Investment opportunities are currently unlimited due to the economic downturn. Even with the dramatic decrease in rent costs, apartments are still being occupied to their full capacity. These rent cuts are only enticing more to the rental market. With the loss of jobs being so prevalent especially in Orange County and the surrounding areas, renting has reached an all time high. Investors alike can take full advantage of this. Not only is investing in one of these apartment properties wise; it would be foolish not to.
Written by: Brittany Duhs
