orange county 2011 1 q_earlyedition

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Orange County Report 1st Quarter 2011 ©2011 MPF Research. The Orange County Apartment Report is published quarterly by MPF Research. Material in this report is for the sole and exclusive use of subscribers and may not be reprinted, resold, or recorded in any manner, in whole or in part, without the specific written permission of MPF Research. Any infringement will be subject to legal redress. 4000 International Parkway Carrollton, TX 75007 (972) 820-3100 www.mpfresearch.com 90% 92% 94% 96% 98% 100% 1Q 06 3Q 06 1Q 07 3Q 07 1Q 08 3Q 08 1Q 09 3Q 09 1Q 10 3Q 10 1Q 11 Apartment Occupancy Orange County Area -10% -5% 0% 5% 10% 1Q 06 3Q 06 1Q 07 3Q 07 1Q 08 3Q 08 1Q 09 3Q 09 1Q 10 3Q 10 1Q 11 Annual Same-Store Rent Change Orange County Area 0 1Q 2011 Avg % Monthly Rent Change 1 North Orange County $1,311 1.8% 2 Buena Park $1,302 3.5% 3 Anaheim $1,294 2.6% 4 Central Orange County $1,466 2.0% 5 Huntington Beach $1,405 2.4% 6 Santa Ana $1,312 3.2% 7 Irvine $1,685 0.3% 8 Mission Viejo $1,468 1.5% 9 Newport Beach $2,083 -0.7% 10 South Orange County $1,580 2.4% ORANGE COUNTY AREA $1,491 1.5% Submarket ANNUAL SAME-STORE RENT CHANGE 1st Quarter 2010 - 1st Quarter 2011

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Page 1: Orange county 2011 1 q_earlyedition

Orange County Report

1st Quarter 2011

©2011 MPF Research. The Orange County Apartment Report is published quarterly by MPF Research. Material in this report is for the sole and exclusive use of subscribers and may not be reprinted, resold, or recorded in any manner, in whole or in part, without the specific written permission of MPF Research. Any infringement will be subject to legal redress.

4000 International Parkway Carrollton, TX 75007 (972) 820-3100 www.mpfresearch.com

90%

92%

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96%

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100%

1Q 06

3Q 06

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3Q 07

1Q 08

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1Q 09

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1Q 10

3Q 10

1Q 11

Apartment OccupancyOrange County Area

-10%

-5%

0%

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10%

1Q 06

3Q 06

1Q 07

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1Q 08

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Annual Same-Store Rent ChangeOrange County Area

0

1Q 2011 Avg %Monthly Rent Change

1 North Orange County $1,311 1.8%

2 Buena Park $1,302 3.5%

3 Anaheim $1,294 2.6%

4 Central Orange County $1,466 2.0%

5 Huntington Beach $1,405 2.4%

6 Santa Ana $1,312 3.2%

7 Irvine $1,685 0.3%

8 Mission Viejo $1,468 1.5%

9 Newport Beach $2,083 -0.7%

10 South Orange County $1,580 2.4%

ORANGE COUNTY AREA $1,491 1.5%

Submarket

ANNUAL SAME-STORE RENT CHANGE1st Quarter 2010 - 1st Quarter 2011

Page 2: Orange county 2011 1 q_earlyedition

©2011 MPF Research. The Orange County Apartment Report is published quarterly by MPF Research. Material in this report is for the sole and exclusive use of subscribers and may not be reprinted, resold, or recorded in any manner, in whole or in part, without the specific written permission of MPF Research. Any infringement will be subject to legal redress.

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Orange County Report

Total Eff One Two Three1 North Orange County 94.2% 97.8% 94.3% 93.9% 95.7%2 Buena Park 97.1% 100.0% 96.8% 96.9% 98.4%3 Anaheim 95.1% 94.8% 95.4% 94.8% 95.5%4 Central Orange County 94.7% n.a. 94.2% 95.0% 96.6%5 Huntington Beach 95.0% 95.7% 95.1% 94.8% 95.7%6 Santa Ana 95.9% 97.8% 96.0% 95.6% 96.4%7 Irvine 95.6% 95.6% 95.7% 95.4% 96.7%8 Mission Viejo 95.3% n.a. 95.3% 95.5% 94.3%9 Newport Beach 95.1% n.a. 95.3% 95.1% 94.2%

10 South Orange County 94.9% 93.8% 94.8% 95.0% 94.0%ORANGE COUNTY AREA 95.3% 96.2% 95.3% 95.2% 96.0%

AVERAGE GROSS OCCUPANCY BY BEDROOM TYPE1st Quarter 2011

Submarket

Total 2000+ 90-99 80-89 70-79 Pre-701 North Orange County 94.2% 79.9% 98.2% 95.2% 94.8% 96.4%2 Buena Park 97.1% n.a. n.a. 99.3% 96.9% 97.2%3 Anaheim 95.1% 94.9% 94.3% 95.9% 95.9% 93.1%4 Central Orange County 94.7% 94.6% 97.4% 89.3% 94.6% 95.4%5 Huntington Beach 95.0% 95.0% 86.2% 95.4% 95.6% 96.0%6 Santa Ana 95.9% 88.9% 95.2% 96.2% 96.3% 96.3%7 Irvine 95.6% 95.8% 95.0% 96.0% 95.1% 97.2%8 Mission Viejo 95.3% 95.1% 95.5% 95.6% 94.6% n.a.9 Newport Beach 95.1% 95.7% 95.6% 95.5% 94.3% 94.7%

10 South Orange County 94.9% 89.2% 92.8% 95.4% 98.1% n.a.ORANGE COUNTY AREA 95.3% 94.6% 94.9% 95.6% 95.5% 95.7%

AVERAGE GROSS OCCUPANCY BY YEAR COMPLETED1st Quarter 2011

Submarket

Page 3: Orange county 2011 1 q_earlyedition

©2011 MPF Research. The Orange County Apartment Report is published quarterly by MPF Research. Material in this report is for the sole and exclusive use of subscribers and may not be reprinted, resold, or recorded in any manner, in whole or in part, without the specific written permission of MPF Research. Any infringement will be subject to legal redress.

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Orange County Report

Total Eff One Two Three1 North Orange County $1,311 $1,041 $1,139 $1,500 $1,8282 Buena Park $1,302 $828 $1,127 $1,395 $1,7143 Anaheim $1,294 $898 $1,093 $1,443 $2,0064 Central Orange County $1,466 n.a. $1,318 $1,548 $1,8805 Huntington Beach $1,405 $1,194 $1,250 $1,565 $1,8996 Santa Ana $1,312 $1,005 $1,127 $1,467 $1,7047 Irvine $1,685 $1,182 $1,443 $1,795 $2,3248 Mission Viejo $1,468 n.a. $1,259 $1,614 $2,1379 Newport Beach $2,083 n.a. $1,649 $2,270 $2,830

10 South Orange County $1,580 $1,099 $1,399 $1,667 $2,110ORANGE COUNTY AREA $1,491 $1,076 $1,270 $1,636 $2,163

AVERAGE MONTHLY RENT BY BEDROOM TYPE1st Quarter 2011

Submarket

Total 2000+ 90-99 80-89 70-79 Pre-701 North Orange County $1,311 $1,804 $1,420 $1,371 $1,245 $1,1622 Buena Park $1,302 n.a. n.a. $1,130 $1,344 $1,2313 Anaheim $1,294 $1,812 $1,219 $1,224 $1,172 $1,1894 Central Orange County $1,466 $1,658 $1,614 $1,724 $1,315 $1,3435 Huntington Beach $1,405 $1,693 $1,375 $1,554 $1,327 $1,3266 Santa Ana $1,312 $2,412 $1,585 $1,248 $1,279 $1,1857 Irvine $1,685 $1,798 $1,741 $1,655 $1,427 $1,2488 Mission Viejo $1,468 $1,575 $1,551 $1,374 $1,362 n.a.9 Newport Beach $2,083 $2,278 $2,198 $1,668 $2,124 $1,862

10 South Orange County $1,580 $1,676 $1,696 $1,561 $1,613 n.a.ORANGE COUNTY AREA $1,491 $1,800 $1,631 $1,478 $1,339 $1,238

Submarket

AVERAGE MONTHLY RENT BY YEAR COMPLETED1st Quarter 2011

Page 4: Orange county 2011 1 q_earlyedition

©2011 MPF Research. The Orange County Apartment Report is published quarterly by MPF Research. Material in this report is for the sole and exclusive use of subscribers and may not be reprinted, resold, or recorded in any manner, in whole or in part, without the specific written permission of MPF Research. Any infringement will be subject to legal redress.

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Orange County Report

Orange County