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2022 Q2 Orange County Multifamily Research Report

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Overall Occupancy Holds as Rents Continue to Climb

The Orange County multifamily market kicked off 2022 with an overall occupancy rate of 97.4% and an average $2,473 effective rent per unit. Occupancy remained flat quarter over quarter and is up 10 basis points from 12 months ago. Rents are up 12.6% year over year and now 25.3% above pre-pandemic levels. Sales volume through the first half of the year totaled $1.28B with an average price per unit of $405,707, despite rising interest rates and overall economic uncertainty. The average sale price per unit is now 11% higher than a year ago and up 55% compared to five years ago.

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2022 Q2 Orange County Multifamily Research Report

Download Report