The City of Orange is anchored by Chapman University and the historic Orange Plaza. Rental demand is steady from a mix of Chapman population, St. Joseph Hospital workforce, and OC commuters who want central-county location at modest rents.
| Metric | Orange | OC Average |
|---|---|---|
| Avg 1-BR rent | $2,480 | $2,847 |
| Avg 2-BR rent | $3,150 | $3,591 |
| Avg 3-BR rent | $3,980 | $4,510 |
| Vacancy rate | 4.6% | 4.1% |
| Days to lease | 20 days | 18 days |
| YoY rent change | +1.8% | +2.8% |
| Renter household share | 46% | 41% |
Cap rates in Orange currently range from 4.4% (Class A) to 5.1% (Class C / value-add) per NGC observations of recent transactions. The renter base skews toward chapman students, faculty, healthcare workers, and oc commuters.
Use Orange's rent and vacancy as a reference point against the rest of Orange County. Orange sits in the Central OC submarket and competes for tenants with adjacent cities. Tenants priced out of Orange typically look one tier inland (or, conversely, save up to move closer to the coast).
For deeper comparison, see our complete OC city profile comparison, the OC Rental Investor Guide for cap rate analysis, or our renter demographics breakdown to understand who actually rents in OC.
As of April 2026, average rent in Orange is $2,480/mo for a 1-bedroom, $3,150/mo for a 2-bedroom, and $3,980/mo for a 3-bedroom. Year-over-year rent change is +1.8%.
The average rental property in Orange leases in 20 days. Vacancy rate is 4.6%, softer than the OC county average of 4.1%.
Cap rates in Orange currently range from 4.4% to 5.1% depending on property class. Coastal Class A is at the low end; older value-add multifamily trades at the high end.
Approximately 46% of Orange households are renters per US Census ACS 2019-2023 5-year estimates. This is roughly the OC average renter share.
For investors, Orange offers central oc exposure with cap rates in the 4.4–5.1% range. Rent growth is positive (+1.8% YoY) and vacancy is manageable. See our OC Investor Guide for full underwriting framework.
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