{"id":4012,"date":"2022-04-28T09:13:00","date_gmt":"2022-04-28T09:13:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4012"},"modified":"2023-09-13T12:09:30","modified_gmt":"2023-09-13T12:09:30","slug":"orange-county-multifamily-market-report-april-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/","title":{"rendered":"Orange County Multifamily Market Report\u00a0&#8211; April 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Demand Stabilizes Fundamentals<\/h2>\n\n\n\n<p>Following a harrowing 2020, <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-fall-2021\/\">Orange County showed remarkable resilience <\/a><\/strong>amid the fallout from the pandemic and began a steady recovery, especially in the second half of 2021. The metro\u2019s solid fundamentals gave the market a strong start in 2022, with rent growth, economic expansion and occupancy all outperforming national levels. <strong>Rents rose 0.9%<\/strong> on a T3 basis through February, to $2,614, while occupancy closed at the 98.0% mark.<\/p>\n\n\n\n<p><strong>Orange County\u2019s unemployment stood at 4.2%<\/strong> in January, trailing the U.S. rate by 40 basis points, but leading the state of California (5.7%), Sacramento (5.0%) and overall Los Angeles (5.7%). The job market expanded by 7.2% in the 12 months ending in December, well above the 4.4% national rate. Only the financial activities sector contracted (-1,600 jobs). Professional and business services\u2014the market\u2019s largest sector\u2014expanded by 19,600 positions. Announced company expansions are likely to sustain the economic recovery, headlined by ventures like Overair and Rivian.<\/p>\n\n\n\n<p><strong>Developers delivered 381 units through February,<\/strong> following the 2,100 apartments finalized in 2021. Another 8,799 units were underway. Meanwhile, transaction activity remained elevated, with a volume of $206 million this year through February, following the $2.2 billion all-time high in 2021. The price per unit rose 66.9% year-over-year through December, to $430,965.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2003-MatrixMultifamilyOrangeCountyReport-April2022\">Matrix Multifamily Orange County Report-April 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Demand Stabilizes Fundamentals Following a harrowing 2020, Orange County showed remarkable resilience amid the fallout from the pandemic and began a steady recovery, especially in the second half of 2021. The metro\u2019s solid fundamentals gave the market a strong start in 2022, with rent growth, economic expansion and occupancy all outperforming national levels. Rents rose [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,34],"class_list":["post-4012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-orange-county"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Orange County Multifamily Market Report\u00a0- April 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Orange County rents rose 0.9 percent on a T3 basis through February, to $2,614, and occupancy climbed close to the 98% mark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orange County Multifamily Market Report\u00a0- April 2022\" \/>\n<meta property=\"og:description\" content=\"Orange County rents rose 0.9 percent on a T3 basis through February, to $2,614, and occupancy climbed close to the 98% mark.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-28T09:13:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T12:09:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/05\/Orange-County-iStock-1346655328.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Orange County Multifamily Market Report\u00a0- April 2022 - Yardi Matrix Blog","description":"Orange County rents rose 0.9 percent on a T3 basis through February, to $2,614, and occupancy climbed close to the 98% mark.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/","og_locale":"en_US","og_type":"article","og_title":"Orange County Multifamily Market Report\u00a0- April 2022","og_description":"Orange County rents rose 0.9 percent on a T3 basis through February, to $2,614, and occupancy climbed close to the 98% mark.","og_url":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-04-28T09:13:00+00:00","article_modified_time":"2023-09-13T12:09:30+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/05\/Orange-County-iStock-1346655328.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-april-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Orange County Multifamily Market Report\u00a0&#8211; 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