Just 31% of Orange County rentals ranked as ‘affordable’

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Just 31 percent of Orange County rental units are “affordable” to what a typical renter makes, according to one housing-cost measurement.

Researchers at apartment tracker RentCafe, using Census Bureau data, studied renters’ financial challenges by estimating the share of units in a market costing less than 30 percent of a typical renter household’s income. In Orange County, the common tenant paid a median rent of $1,786 while earning $61,503 yearly.

By this math, Orange County had the third-worst rental affordability among 10 Southern California counties studied.

Between 2011 and 2017, Orange County rents rose $356 a month — 25 percent — while incomes rose $12,413 a year, or 25 percent. In 2011, 34 percent of local rentals were affordable to typical paychecks — 3 percentage points higher than 2017.

Nationwide, 49 percent of U.S. rentals were “affordable,” with a 2017 median rent of $1,012 vs. an annual income of $38,944 for renters.

That means Orange County rents are 76 percent higher than the nation while local renters get paid only 58 percent more.

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