State: California
The Orange County real estate market is booming! In fact, it's listed as a top 20 market in PWC's Emerging Trends in Real Estate 2022 report.
Orange County, California, is an establishment market like Washington DC and New York. As a result, Orange County has high real estate investor demand, right behind Seattle and just above San Diego.
Why are real estate investors interested in Orange County rental properties? Low inventory, high demand, and above-average home price appreciation. Demand is so high in Orange County that most homes sell in just 43 days.
Orange County's consistent demand and home price appreciation make it an establishment market and give the county its investment potential.
Orange County is a region in Southern California along I-5 and the Pacific Coast just south of Los Angeles and about 87 miles north of San Diego.
Think of Orange County, CA; you'll probably envision Huntington Beach's surfers, Laguna Beach's socialites, or the Seal Beach pier. And you're not wrong. The Orange County area has something to offer everyone.
Real estate investors can find nearly every property type in Orange County's property listings. Whether you're looking to invest in commercial, multi-family, or single-family homes, there's an Orange County investment property for you. You can find everything from condos to townhomes and triplexes to single-family homes with or without swimming pools in Orange County homes for sale.
Orange County, CA, is home to many great neighborhoods for real estate investors to consider. They include Anaheim, Costa Mesa, Irvine, Mission Viejo, and Santa Ana.
A few other neighborhoods worth noting are Corona del Mar, known for its beaches and cliffside views; Dana Point, the "Dolphin and Whale Watching Capital of the World;" Fountain Valley, a family-friendly community; Lake Forest, home to Serrano Adobe, the first historic park in Orange County; San Clemente, known for its Spanish colonial-style architecture; Tustin, known as the "city of trees;" Westminster, the home of the largest population of Vietnamese outside of Vietnam; and Yorba Linda, the birthplace of Richard Nixon. Whatever you're looking for, Orange County has something to offer everyone.
Orange County's robust rental market creates steady demand for rental properties. Nearly half (43%) of households in Orange County are renter-occupied, and the county has a 5% vacancy rate.
According to Realtor, the median listing price in Orange County is $611 per square foot with a median sale price of $1,050,000. Zillow's Home Value Index reports a 24.6% change since last year. The median rent in Orange County is $5,500 per month. What's more, Orange County has a cap rate of 4.25%.
With numbers like these, an Orange County rental property can potentially increase cash flow for real estate investors and property management companies.
Orange County is the third most populous county in California, behind Los Angeles County and San Diego County.
Orange County's primary industries are healthcare, manufacturing, and retail trade. The largest employers are the Walt Disney Company, Hoag Memorial Hospital, MemorialCare, Edwards Lifescience, and Boeing. Orange County is also the headquarters of Taco Bell, Knott's Berry Farm, Kia Motors America, Quicksilver Inc, and many other well-known companies. These employers provide well-paying jobs that fuel the city's economy. In fact, the median household income in Orange County was over $94,000 last year, and the unemployment rate is just 2.4%.
The Orange County real estate market offers real estate investors demand, above-average appreciation, and a stable economy. They combine to create a tremendous investment opportunity.
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