Tuesday, August 25, 2015

The Portola Hills Rental Market

Rental market in Portola Hills?  You might be thinking wait there are not any apartments in Portola Hills, so how many rentals can their be.   Did you know there are over 280 rental properties in Portola Hills.  So far in 2015 33 residences have rented*. In 2014 a total of 38 residences were rentals, below is a summary of what has rented so far this year..

Portola Hills Rentals
Breaking the above data down, shows the average rent in Portola Hills was $2477 and that was for 1463 square feet.  Overall the price per square footage is at $1.79 per square foot. This is 7% increase from 2014, where the price per square foot averaged $1.67.  

This increase is pretty consistent with the rest of Orange County.  A report in the OC Register in July noted pricing overall in the County increased 6.9%.

When working with tenants I find they are drawn to Portola Hills for the same reason homeowners are, it's a nice residential area, low crime,  centrally located within Orange County work hubs and for families offers access to a great elementary school Portola Hills Elementary as well to all the schools in the Saddleback Unified School District.

One aspects property owners who are looking to buy in Portola Hills and rent, is the low turnover rate. Looking at 2014, 87% of the tenants did not move, 13% of the residences did secure new tenants in 2014.   Year to date in 2015 that number is 11% and there currently is only 1 home listed for rent.

If you are looking to rent a home in Portola Hills, send us a email of what you are looking for and we would be happy to help find one.  As well if you are a landlord in the area and needing to rent your property, we can of course help you secure a tenant as well.


* includes rental properties that were processed through CRMLS.  

 


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