Home Prices may be flat to down in 2007 but one thing for sure is that rental rates continue to rise in Orange County and across the U.S.  While USA Today has stated that they expect rents to rise 5% across the Nation, Orange County and Southern California is seeing increases of 6% -10%.  The Irvine company in Orange County is raising most of its rents 7% - 10%. 

Why are rents increasing so much? 

1)  High home prices has increased the demand for rental properties. 

2)  The hundreds of condo conversions throughout Southern California has decreased the amount of rental homes. 

3) A Strong economy and the fact that more people are moving to Southern California then leaving. 

4) The demand of people wanting to live in Orange County continues to be strong.  Irvine was the 3rd fastest growing city in California for cities under $300,000.

For an Orange County market update click "My Newsletter" to read the latest.  Please contact me for more info about rents, purchasing you own personal residence or investment properties.  888-877-6062.