Rents Keep Rising in O.C.; Average Up 8%

Rents in large apartment complexes continued to set records in Orange County during the second quarter, as a typical two-bedroom, one-bath unit jumped by more than 10% from a year earlier to $1,120, according to a report released Friday.

In the county, the average rent for units ranging from studios to large townhouses rose 8% to $1,191 in the second quarter, according to RealFacts, a Novato-based research company.

Southland rents for units ranging from studios to large townhouses climbed nearly 9% in the quarter, according to RealFacts. Rents have been rising at more than double the rate of inflation this year, as surging home prices and a scant supply of new construction has pushed up rental costs across the board.

In Los Angeles County, rents at complexes of 70 units or more grew nearly 10% to an average $1,200 during the April-June period, the fastest growth rate in the Southland, RealFacts said. A two-bedroom, one-bath unit in Los Angeles County climbed more than 14% to $1,040 from a year earlier.

Average rents rose more than 9% to $1,126 in Ventura County, and more than 8.5% to about $805 in Riverside and San Bernardino counties, RealFacts said.