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Whether you’re renting, own a rental property or are deciding between renting and buying, here’s what happened in the Orange County rental market in August and how it affects your next move.
Orange County Rental Market Numbers at a Glance
- Median lease price: $4,500, unchanged from July
- Homes leased: 1,243, down 3% from July
- Median days on market: 18 days, up from 16 days (up 13%)
- Homes available for rent right now: 2,216
Orange County Rental Market: Rents Are Holding Steady
The median lease price in Orange County held at $4,500 in August, with no change from the month before. Even as leasing activity slows down, rents aren’t coming down.
Rentals Are Taking Longer to Lease
The Orange County rental market slowed in August, with 1,243 homes leased, down 3% from July. Homes took a median of 18 days to lease, up from 16 days the month before. With 2,216 homes available for rent, tenants have choices, and landlords have competition.
For Landlords and Investors
Every extra day a rental sits empty is lost income. With the Orange County rental market slowing down, pricing your rental in line with the market, making sure it shows well and responding quickly to qualified applicants matter more right now.
For Renters Thinking About Buying
At a median of $4,500 a month, rent adds up fast, and none of it builds equity for you. Meanwhile, the for-sale market is giving buyers more breathing room. There are 376 more homes for sale in Orange County than a year ago, and fewer buyers are competing for them.
If you’ve been renting while you wait for the right time to buy, it’s worth taking a fresh look at what your monthly payment could look like as an owner.
For Homeowners Weighing Renting vs. Selling
If you’re deciding whether to rent out your home or sell it, both paths deserve a close look. Rents are holding steady, but rentals are taking longer to lease. I can help you compare both options side by side so you can make the move that fits your goals.
Let’s Run the Numbers Together
Whether you’re a renter ready to buy, a landlord pricing a rental or a homeowner deciding what’s next, reach out. I’ll help you figure out your best move in South Orange County.
Donna Brown | Realtor® | DRE #02228536 | Keller Williams OC Luxury Realty | 949-491-2446