Orange County Apartments Show 3% Vacancy Rate

A scant 3.1% of apartments in Orange County are vacant, and demand could support construction of as many as 4,000 new units, according to a Laguna Hills-based research and marketing firm.

Research Network Ltd. said about 7,800 rental units were either completed or under construction at the end of last year, and at least 3,200 units are expected to begin this year.

The hottest building spot last year was the unincorporated part of the county, where 1,800 units were begun or completed. It was followed by Placentia (700 units), Irvine and Newport Beach (600 units each) and Costa Mesa and Santa Ana (500 units each).