Orange County housing prices at all-time high

WESTMINSTER, Calif. (KABC) -- Housing prices in Orange County are at an all-time high, and while homeowners may benefit, those looking to buy or rent are struggling to find affordable options.

According to apartment tracker RealFacts.com, the average asking rent is at an all-time high in Orange County in large apartment complexes with 90 or more units.

Landlords are asking $1,765 per month in September. That's up more than 3 percent from last year.

The city of Cypress had the lowest vacancy rate in Orange County, but also saw the biggest rent increases. The average asking rent rose $125 to more than $1,600 a month.

Nancy DeLeon, a mother of three, says she would like to move, but finding something affordable isn't easy. She pays $1,450 per month for a two-bedroom/one-bath apartment in Santa Ana.

"It is really, really expensive," said DeLeon. "Where we're at, we've been living there for about eight years. It's not a very nice area so we've been trying to find somewhere else, but the rent, it's so high."

"I probably get about 10 calls a week for individuals looking for affordable rentals," said Connie Der Torossian, Orange County Housing Opportunities Collaborative.

The numbers are not surprising to those who help people find housing.

"I know with the foreclosures that we had, the housing crisis, we saw a lot of people pushed out of their houses and into rentals, so the rental market just ballooned," said Der Torossian.

Experts say finding a place that fits the budget takes time.

"Maybe up to about a year that we were searching," said Santa Ana resident Alberto Tapia.

"At some point I hope it's going to stop," said Der Torossian. "It really could be years."

Those in need of affordable housing will face a waiting list, but officials urge prospective renters to sign up, and then be persistent.

"Keep calling and calling and do your due diligence and try to get in there and find a place, because it's really the early the bird catches the worm," said Der Torossian.

People looking for affordable housing can visit virtualcounselornetwork.org or call (800) 826-1502.