ANOTHER ONE BITES THE DUST
Unless you look quickly you may miss one of those pleasant aspects of life that, like open beach-front property, was once common in Orange County: the $500 rental payment. Since 1983, the percentage of county residents saying they pay $500 or less to rent their home has declined by about two-thirds. At the same time, the percentage paying between $500 and $1,000 per month has nearly doubled while the portion with payments in excess of $1,000 has jumped from virtually non-existent to one in 10. There is more stability on the mortgage front, but at the extremes the same patterns obtain.
In percentages
RENT PAYMENTS
Less than $500
1983: 62%
1984: 40%
1985: 36%
1986: 27%
1987: 23%
1988: 20%
$501-$1,000
1983: 37%
1984: 57%
1985: 59%
1986: 64%
1987: 70%
1988: 69%
More than $1,000
1983: 1%
1984: 3%
1985: 5%
1986: 9%
1987: 7%
1988: 11%
MORTGAGE PAYMENTS
Less than $500
1983: 55%
1984: 47%
1985: 47%
1986: 43%
1987: 40%
1988: 38%
$501-$1,000
1983: 33%
1984: 33%
1985: 31%
1986: 30%
1987: 31%
1988: 30%
More than $1,000
1983: 12%
1984: 20%
1985: 22%
1986: 27%
1987: 29%
1988: 32%
Source: Orange County Survey by Mark Baldassare, UCI
