Orange County is an excellent location to own rental property. With its sunny weather, diverse culture, and flourishing economy, Orange County has an abundant supply of renters who are looking for good places to live. Whether you’re a new investor or an experienced one, investing in Orange County rental property can be a smart move. In this blog post, we’re going to look at the top five best places in Orange County to own rental property.
1. Irvine
Irvine is one of the most desirable cities in Orange County due to its excellent education, low crime rate, and overall lifestyle. The city also has low vacancy rates and strong rental demand, making it an attractive option for rental property owners. Owning property in Irvine can fetch you high rental yields, and with a median home value of $880,000, you can expect high appreciation rates as well.
2. Anaheim
Anaheim is another great city to own rental property in Orange County. It has a thriving tourism industry, which means that there is always a high demand for short-term rentals. However, Anaheim also has a large population of long-term renters, making it an ideal place for buy-and-hold investors. The median home value in Anaheim is $678,000, and the city offers a rental yield of 2.89%.
3. Newport Beach
Newport Beach is a luxurious coastal city in Orange County known for its beautiful beaches, upscale shops, and fine dining. Owning rental properties in Newport Beach can fetch a high rental income as long-term rentals or as short-term rentals through vacation rental platforms, such as Airbnb. With a median home value of $2.5 million, Newport Beach offers a higher potential for appreciation and returns.
4. Fullerton
Fullerton is a city with a vibrant nightlife, a thriving arts and culture scene, and a top-rated university – California State University, Fullerton. The city has a diverse population, with a mix of students, young professionals, and families. The median home value in Fullerton is $735,000, and rental yields are around 3.00%.
5. Huntington Beach
Huntington Beach is a quintessential coastal city with a laid-back surfer vibe. As a popular tourist destination, short-term rentals fetch high rental yields. With the median home value at $1.1 million, rental properties in Huntington Beach also offer substantial appreciation rates.
Become a Successful Rental Owner in Orange County, CA
Owning rental property in any of these five cities is a great investment idea with the potential for high rental yields, strong rental demand, and appreciation rates. However, as a rental property owner, managing your property can be a time-consuming task. That’s where an Orange County property management company can come in to manage your property, handle tenant concerns and rent collections, and perform regular maintenance. If you need help managing your rental property, contact an experienced property management company today.