The Los Angeles multifamily market in Q3 2025 shows a slight increase in vacancy rates and modest rent growth, while construction activity continues to decline and sales prices soften. Explore our full Los Angeles multifamily market review for detailed analysis and emerging trends.
3Q 2025 Los Angeles Multifamily Market: Key Data Points
- Vacancy Rate Edges Up: Los Angeles multifamily vacancy rate rose 30 basis points year-overyear to 5.2% in 3Q 2025.
- Average Asking Rents Up 0.6%: Rents increased slightly to an average of $2,282 per month, with three-bedroom units reaching $3,137.
- Construction Pipeline Shrinks: Units under construction declined 21% year-over-year to 25,884 units.
- Sales Prices Dip: The average sales price per unit fell 10% year-over-year to $271,992.
- Net Absorption Declines: Net absorption dropped 28.8% year-over-year to 7,081 units YTD.
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