The Inland Empire multifamily market in Q3 2025 reflects modest rent growth and a slight decline in vacancy rates, while construction activity continues to slow and sales prices rise. Explore our full Inland Empire multifamily market review for detailed insights and trends.
3Q 2025 Inland Empire Multifamily Market: Key Data Points
- Vacancy Rate Slightly Down: The multifamily vacancy rate decreased by 10 basis points year-over-year to 5.7% in 3Q 2025.
- Average Asking Rents Up 1%: Rents rose to an average of $1,942 per month, with studio units at $1,386 and three-bedroom units at $2,274.
- Construction Pipeline Contracts: Units under construction fell 42% year-over-year, totaling 4,507 units.
- Sale Prices Surge: The average sales price per unit increased 23.8% year-over-year to $305,704.
- Net Absorption Outpaces Deliveries: Net absorption rose 51% year-over-year to 4,081 units YTD, while construction deliveries increased modestly by 6% to 3,682 units.
- Cap Rates Rise: Average cap rates climbed 50 basis points year-over-year to 5.8%.
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