|
Rental Market Update
According to Real Facts, a firm that gathers statistics on the multifamily housing market, the vacancy rate for apartments in Los Angeles County was 5.1 percent in the first quarter of 2004, up from 4.0 percent during the prior quarter and unchanged from the first quarter of 2003. The
Orange
County vacancy rate was 5.3 percent in the first quarter of 2004 compared to 4.6 percent in the fourth quarter of 2003 and up slightly from a year ago when the rate was 5.1 percent. The rate in the
Inland Empire was 4.7 percent, up from 3.9 percent in the previous quarter but down from 6.0 percent a year ago. Rental rates increased steadily in all three market areas in the first quarter of this year, with the Los Angeles county market reporting a 3.9 annual percent increase to $1,355 per month, Orange County experiencing a 3.2 percent increase to $1,284 per month, and the Inland Empire showing a 6.2 percent increase to $960 per month. |
