{"id":826,"date":"2021-04-29T07:40:12","date_gmt":"2021-04-29T07:40:12","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=826"},"modified":"2023-09-12T15:51:41","modified_gmt":"2023-09-12T15:51:41","slug":"orange-county-multifamily-market-report-spring-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-spring-2021\/","title":{"rendered":"Orange County Multifamily Market Report &#8211; Spring 2021"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Limited Supply Powers Rent Growth<\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/tag\/orange-county-housing-market\/\" target=\"_blank\" rel=\"noreferrer noopener\">Orange County<\/a><\/strong> displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021. Limited new supply is again one step behind healthy demand, with rents rising by 0.3% on a trailing three-month basis through February, outperforming the 0.1% U.S. rate. The county\u2019s $2,164 average as of February was well above the $1,399 U.S. figure. Occupancy in stabilized properties also mirrored overall healthy dynamics and was up 30 basis points in the 12 months ending in January, to 96.2%.<\/p>\n\n\n\n<p>Following the abrupt drop in job gains, the employment market posted a slow but steady comeback in the last quarter of 2020, recording a 9.5% reduction in the 12 months ending in December and trailing the -6.8% national figure. The unemployment rate stood at 6.4% in November, with preliminary Bureau of Labor Statistics data pointing to a new increase, at 7.4% as of January. Construction was the only sector to gain positions last year, up 1.8%. The metro\u2019s hardest-hit sector\u2014leisure and hospitality\u2014could see a rebound, as Disney, the county\u2019s largest employer, announced a gradual reopening starting at the end of April.<\/p>\n\n\n\n<p>Developers had 6,547 units underway as of February, on the heels of 1,795 apartments coming online last year. Meanwhile, investors resumed activity and sales totaled $189 million for the first two months of 2021, accounting for nearly half of last year\u2019s total volume.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/Publications\/Download\/File\/1243-MatrixMultifamilyOrangeCountyReport-Spring2021?utm_source=Matrix-Blog&amp;utm_medium=Social\" target=\"_blank\" rel=\"noreferrer noopener\">Matrix Multifamily Orange County Report-Spring 2021<\/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>Limited Supply Powers Rent Growth Orange County displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021. Limited new supply is again one step behind healthy demand, with rents rising by 0.3% on a trailing three-month basis through February, outperforming the 0.1% U.S. rate. The county\u2019s $2,164 average [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,34],"class_list":["post-826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","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 - Spring 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Orange County displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021.\" \/>\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-spring-2021\/\" \/>\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 - Spring 2021\" \/>\n<meta property=\"og:description\" content=\"Orange County displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-spring-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-29T07:40:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T15:51:41+00:00\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/04\/Orange-County-Matrix-Report-iStock-1304651405.jpg\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Orange County Multifamily Market Report - Spring 2021 - Yardi Matrix Blog","description":"Orange County displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021.","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-spring-2021\/","og_locale":"en_US","og_type":"article","og_title":"Orange County Multifamily Market Report - Spring 2021","og_description":"Orange County displayed signs of stabilization in the second part of 2020 and this trend has continued in 2021.","og_url":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-spring-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-04-29T07:40:12+00:00","article_modified_time":"2023-09-12T15:51:41+00:00","author":"lilianam","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/04\/Orange-County-Matrix-Report-iStock-1304651405.jpg","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-spring-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orange-county-multifamily-market-report-spring-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Orange County Multifamily Market Report &#8211; 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