Orange County Business : REAL ESTATE : Apartment Vacancy Rate Rises to 7.2% This Spring From 6.8% a Year Earlier
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The apartment vacancy rate for Orange County was 7.2% this spring, according to the semiannual survey of the Apartment Assn. of Orange County. That was up slightly from a rate of 6.8% a year earlier.
Mission Viejo had the highest vacancy rate, with 11.4% of the apartments in that city standing empty. Anaheim was second-highest, with a 10.6% vacancy rate. The lowest rates across the county were in Placentia, with 3.7%; Irvine, 3.9%; and Rancho Santa Margarita, 4.1%.
The apartment association, a nonprofit group of rental property owners and managers, surveyed 82,500 units, or about 25% of the units in Orange County. The results were released this week. The association conducts surveys each spring and fall.
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