Valleys Area Rentals Show 9% Vacancies

A rental housing survey conducted by the Apartment Assn. of Affiliated Cities has reported a vacancy rate of 9.03% and high turnover for the greater Inland Empire, Pomona and San Gabriel valleys.

The survey indicated relatively affordable rents and very high vacancy rates, with high rates of tenant turnover and evictions. However, owners appeared to be relatively satisfied with their investment in apartments.

Affiliated Cities monthly rents range from $175 to $1,600, with a $424 mean for all units. The highest mean rents are for the furnished two-bedroom units at $614. The lowest rents are for unfurnished studios at $290.

The family composition of rental households showed 33% of all units having children in the households, while 20.4% of units had elderly occupants.