That April gain is just under the 5.4% rent gain seen last year and a 4.9% rate of gain seen in the

That April gain is just under the 5.4% rent gain seen last year and a 4.9% rate of gain seen in the first quarter. Axiometrics projects Orange County rents to rise 5% this year; 5.8% next year and 5% in 2014.
Limited vacancies is a key reason for the rent hikes. Axiometrics reports that the Orange County apartments it surveyed were 95.2% full in April vs. 95.3% for all of 2011. Industry insiders see 95% occupancy as basically full, when one accounts for the normal patterns of tenants coming and going.
Jay Denton australian pacific tours of Axiometrics on the national scene: Little has changed since the beginning of the year, as the apartment market continued to post very strong results through April. The strong performance is driving new construction, and while so far it has been largely concentrated in the urban core, we are beginning australian pacific tours to see construction activity spread beyond the urban core in several markets. While accelerating, new apartment construction will only add 0.7% to overall inventory in 2012 and 0.9% in 2013, which is still below the long-term historical average.
Orange County is seeing its first big new supply of rentals since the recession. The Irvine Co. s new Cypress Village Apartment Homes community hit the market this spring and is leasing up faster than plan.