... Delores Conway, the Casden study director, says the north county area may be in for higher rents this year due to increasing demand. With the economic downturn, she believes tenants may be migrating north in search of lower rents. Conway thinks more tenants who work in Los Angeles may also be moving into the northern part of the county to save gasoline and cut commuting costs.
"Rents should go up this year an average of 2.5% to 3%, with somewhat higher increases in Buena Park and North Orange County where supply is limited," she wrote in the report released Thursday. (Rents in Buena Park averaged $1,401 last year.) "By contrast, the large supply of new apartments in Irvine should lead to stable occupancies and limited rent increases."...