How much does it cost to rent in Orange County California?
ฝัง
- เผยแพร่เมื่อ 1 ต.ค. 2024
- Rental prices in Orange County have been on the rise for years but we have seen some of the most dramatic increases ever over the last 12 months. The average rental price for an apartment has gone up by $400 a month in just the last year and now sits at $2,570. In this episode I cover how much rental prices are rising in Orange County, the reasoning behind it, and what to expect if you are thinking of looking for a rental or have a lease renewal coming up. If you are a current or future renter, this episode is for you!
Josh Alexander
THE brokeredge
JoshAlexanderRealEstate@gmail.com
714.366.2186
DRE#:01974435
Want to get a monthly update on your home’s value? hmbt.co/FpQZKP
Thinking of buying a home, want to know the process and costs involved? - vid.us/kk81kx
Thinking a selling your home and want to know the process and costs involved? - vid.us/7j8wtf
Want to schedule a time to talk? - calendly.com/joshalexanderrealestate
Follow me on Facebook at: / joshalexanderrealestate
Follow me on Instagram at: / josh_the_real_estate_dad
Follow me on LinkedIn at: / joshalexanderrealestate
LinkTree: linktr.ee/josh...
Always on the go? Check out the Orange County Housing Market News podcast:
Apple: apple.co/3e1PX87
Google Play: bit.ly/2WRwCkl
Spotify: spoti.fi/2zhJtD9
iHeartRadio: ihr.fm/36C52uH
Pandora: pdora.co/2KiPeWT
I live in Orange County and my rent just went off this month $200 I’m paying three grand for a two bedroom apartment which is actually cheap for what other places are going for. I’ve lived here my whole life and I can’t even afford my own place on my own it’s horrible. Do you have any suggestions where rent is cheaper but you’re not giving up a good area
It’s going to be hard to find anywhere affordable in the OC area unfortunately, places by the hills are getting hit especially hard right now because fire insurance is going up quickly and the property managers pass those costs to the tenant. Corona could be an option if you are willing to go out that far or another option is to find a room to rent from someone that owns a home and that drives down the costs as well. Another option would be to house hack and purchase a home and rent out the rooms yourself to offset you mortgage and you would end up paying less than you are now and have a home that would be appreciating with all the benefits of being a home owner.
Can you provide a property management co in the OC area? Looking to rent a house.
Yes I have a great one actually. Feel free to text me and I can send you the info 714.366.2186
Is there a rent control in Orange County , California sir?
CA has rent control which allows for 5% increases yearly plus a cost of living(inflation) adjustment of up to another 5% so it can be a maximum of 10% a year. However cities are able to create their own rent control so it come down to the location of your rental inside of CA
in santa ana
I work for county government and currently have room mates. In a year my room mates are moving out of the state. I won’t be able to afford to stay where we are and can’t afford anything on my own in Orange County. I may have to move out of state as well and that mens finding a new job. Damn.
Hi Shelly, thanks for sharing. Unfortunately with affordability at all time lows this is an all too common problem. High prices and high interest rates make it difficult for the majority of people living in the So Cal area to afford a reasonable place to live. Even with programs out there for buying like the FHA loans with 3.5% down, often it comes down to the currently monthly payments are just too high, and as more people are forced out of the buying market it has inflated rental prices as well. One of the possible solutions you might look into is if you do have the 3.5% downpayment and you can qualify for a home to purchase but just don't like the higher mortgage payments, you can do what is called a "house hack" and purchase a 2-3 bedroom condo/home and then rent out the extra rooms at market rate which would typically reduce your monthly costs significantly and make it affordable to live in the area again. This does require some work on your end finding the right roommates and you still have to qualify to purchase a home using just your income, but if the numbers work out it might be an option worth exploring as your roommates will help pay down your mortgage and over time you'll get some appreciation in your home as well which could set you up in the future to buy a place of your own without roommates at some point. Again this doesn't work for everyone but just trying to see if there are any options open to you that you could still explore that would keep you in the area once your roommates leave. There are a few other options out there as well, feel free to reach out if you ever want to discuss in more detail.
@@JoshAlexanderRealEstate unfortunately for me I purchased a home with my ex-husband when we were first married. Plus I can’t give up my savings for home ownership - never doing that again. It’s too much of a crap shoot. Thanks tho - maybe your response will help someone else.
Got it, and completely understand, for the future, if the timing is every right for you to buy again just remember that those first time home buyer programs out there for the most part only require that you haven't owned a home in the last 3 years so there are a lot of programs that could cover portions of your downpayment to get into a home, and FHA loans can be used as well even if you've owned a home before. I actually just interviewed a lender for an episode that I will be releasing this week that is giving a $2,500 grant to anyone that works for the city or state, not qualifications needed except to prove your employment. There will be a lot more of these types of programs rolling out in the near future and lenders do more to compete for business as the market slows down.
I work for Orange County and unfortunately they leave county employees out of many of these
@@mishkalarsoncreations depending on income there are programs to get you as much as 10% down right now and that program for free $2,500 I mentioned all county and city employees will also qualify for. If you ever want to see what you could get in assistance just let me know 🙂