{"id":1004188706,"date":"2017-08-28T04:35:20","date_gmt":"2017-08-28T12:35:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188706"},"modified":"2025-02-26T23:22:42","modified_gmt":"2025-02-27T07:22:42","slug":"demographic-shifts-pick-up-speed-in-orange-county","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/demographic-shifts-pick-up-speed-in-orange-county\/","title":{"rendered":"Demographic Shifts Pick Up Speed in Orange County"},"content":{"rendered":"<p>By Adriana Pop<\/p>\n<div id=\"attachment_1004171669\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/CBRE-Office-at-1111-Broadway-Oakland.jpeg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004171669\" data-attachment-id=\"1004171669\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-opens-new-oakland-office\/cbre-office-at-1111-broadway-oakland\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/CBRE-Office-at-1111-Broadway-Oakland.jpeg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"CBRE Office at 1111 Broadway, Oakland\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;CBRE office at 1111 Broadway, Oakland&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/CBRE-Office-at-1111-Broadway-Oakland.jpeg?w=800\" class=\"wp-image-1004171669\" src=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/08\/chart2.jpg\" alt=\"Orange County rent evolution, click to enlarge\" width=\"400\" height=\"172\" \/><\/a><p id=\"caption-attachment-1004171669\" class=\"wp-caption-text\">Orange County rent evolution, click to enlarge<\/p><\/div>\n<p>Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand in Orange County, pushing up rents and keeping occupancy over 96 percent.<\/p>\n<p>Despite a slowdown, which followed a broader, national trend, the labor market remains stable, sustained by a resurgent construction industry. Major projects underway include LT Platinum Center, a $500 million transit-oriented development, which is set to bring retail, residential and hotel space to Anaheim. Tustin Legacy, the most significant ground-up office development in Orange County\u2019s recent history, is going up in Santa Ana. Employment is also growing in the professional and business sector, mostly in technology and creative industries.<\/p>\n<p>Housing prices, especially near the coast, have become unaffordable for many middle-class and younger families, producing a net out-migration among those segments. Over the next 25 years, residents age 65 and older are projected to be the highest-growing segment of the population.<\/p>\n<p>Both local and foreign investors are drawn to the region\u2019s stability, leading to record-low acquisition yields. Going forward, the rental market may soften, as a significant amount of supply is scheduled to come online in the near future. For 2017, Yardi Matrix expects a rent increase of 5 percent.<\/p>\n<p><em>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/282-OrangeCounty-Summer2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=282-OrangeCounty-Summer2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\">Yardi Matrix report<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand in Orange County, pushing up rents and keeping occupancy over 96 percent.<\/p>\n","protected":false},"author":260,"featured_media":1004188707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,21742,37795,34267,15],"tags":[],"class_list":["post-1004188706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-latest","category-rc-occupancy","category-orange-county","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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