What Orange County Rent Increases Mean for C2E Homebuyers
Keeping up with rising rents is becoming increasingly difficult for LA and Orange County renters who in July experienced the highest year-over-year price increases since 2005 at an astonishing 5.8%. The data comes from the Consumer Price Index, which polls consumers and surveys data from landlords.
CBS Los Angeles is reporting that so far this year the LA-OC rent index has risen an average of 5.5% compared to 4.9% in 2018 and 4.6% from 2015-2017.
These steady increases don’t appear to be slowing down. The Orange County Register is reporting that a major driver of the trend is California’s pending rent control legislation (Bill AB-1482) and similar local statutes under review.
The numbers may signify that it’s time for renters to consider taking the homeownership leap.
“Now is the perfect time to purchase a home and invest in your future due to a secure economy and historically low interest rates. Owning a home provides you the security of knowing your mortgage payment will not increase, independence to do what you want with your decor and landscape, pride of ownership and tax savings and appreciation to help you build your financial wealth.”—Cesi Pagano, Realtor/CEO, Cesi Pagano and Associates
With final homes now selling at C2E Irvine, now is the time for local renters to take advantage of grand closeout prices. Start from the $700,000s, C2E offers a 1,245 sq. ft., two-bed, two and a half-bath townhome, with open-concept main-level design, direct access two-car garage, and recessed lighting in the living room and bedrooms in the heart of Uptown Irvine.
For more information, check out our Grand Closeout Specials.