Los Angeles Multifamily Market Report

The following reflects Los Angeles multifamily market conditions as of 3Q 2026.

The Los Angeles multifamily market in 3Q 2026 experienced rising vacancy and rental rates year over year, while unemployment and construction deliveries declined. Explore our full Los Angeles multifamily market report for deeper insights into rents, absorption, construction activity, and sale trends.

Frequently Asked Questions

What is the Los Angeles multifamily vacancy rate in 3Q 2026?

The Los Angeles multifamily vacancy rate was 5.4% in 3Q 2026, according to Kidder Mathews research. That compares with 5.5% in 2Q 2026 and 5.2% in 3Q 2025, a year-over-year increase of 20 basis points. (Data source: CoStar)

What are average apartment asking rents in Los Angeles in 3Q 2026?

Average asking rents in Los Angeles multifamily averaged $2,323 per unit per month in 3Q 2026, up 0.6% year over year from $2,310 in 3Q 2025. The 2Q 2026 average was $2,317. (Data source: CoStar)

How much does a Los Angeles apartment cost to rent by unit type in 3Q 2026?

Average monthly rent in Los Angeles in 3Q 2026 was $1,707 for a studio, $2,102 for a one-bedroom, $2,680 for a two-bedroom, and $3,255 for a three-bedroom, according to Kidder Mathews research. (Data source: CoStar)

What was net absorption in the Los Angeles multifamily market in 3Q 2026?

Net absorption in Los Angeles multifamily was 4,528 units in 3Q 2026, according to Kidder Mathews research. Net absorption measures the net change in occupied apartment units, so a positive figure means more units were occupied than vacated. The 2026 year-to-date total was 10,303 units versus 13,354 units in 2025 year-to-date, a decrease of 22.8%. (Data source: CoStar)

How many new apartment units were delivered in Los Angeles in 3Q 2026?

Los Angeles multifamily construction deliveries totaled 4,136 units in 3Q 2026, according to Kidder Mathews research. Deliveries reached 10,643 units year to date in 2026, down 18.4% from 13,038 units in the same period of 2025. (Data source: CoStar)

How many multifamily units are under construction in Los Angeles in 3Q 2026?

Los Angeles had 24,325 multifamily units under construction in 3Q 2026, down 11.0% from 27,324 units in 3Q 2025 and from 26,064 units in 2Q 2026, according to Kidder Mathews research. The largest project is 5035 Coliseum in Crenshaw with 800 units, owned by Magnum Real Estate Group and expected to deliver in 2Q 2027. (Data source: CoStar)

What is the average sale price per unit for Los Angeles apartments in 3Q 2026?

The average multifamily sales price in Los Angeles was $281,576 per unit in 3Q 2026, down 7.2% from $303,283 per unit in 3Q 2025, according to Kidder Mathews research. The 2Q 2026 average was $283,201 per unit. (Data source: CoStar)

What is the average cap rate for Los Angeles multifamily in 3Q 2026?

The average cap rate for Los Angeles multifamily was 5.9% in 3Q 2026, according to Kidder Mathews research. That is up 40 basis points from 5.5% in 3Q 2025 and up from 5.8% in 2Q 2026. (Data source: CoStar)

What was the largest multifamily sale in Los Angeles in 3Q 2026?

The largest significant sale in Los Angeles multifamily in 3Q 2026 was 5550 Wilshire at Miracle Mile, a 163-unit property in Miracle Mile that sold for $114,000,000, or $699,387 per unit. Decron Properties purchased it from GID Investment Advisors, LLC. The second-largest was Domain WeHo, a 166-unit property in West Hollywood that sold for $81,300,000 to CIM Group, LP, according to Kidder Mathews research. (Data source: CoStar)

What is the Los Angeles multifamily market outlook for 3Q 2026?

Year-over-year indicators for Los Angeles multifamily in 3Q 2026 show vacancy and rental rates rising while unemployment and construction deliveries declined, according to Kidder Mathews research. Vacancy rose 20 basis points to 5.4%, asking rents rose 0.6% to $2,323, and the construction pipeline fell 11.0% to 24,325 units. Average sales price per unit fell 7.2% and cap rates rose 40 basis points to 5.9%. (Data source: CoStar)

Last updated: 3Q 2026. Data source: CoStar. Compiled by the Kidder Mathews Research Group.

3Q 2026 Los Angeles Multifamily Market: Key Data Points

Explore our full Los Angeles multifamily market review for detailed trends and submarket insights.

• Vacancy: The vacancy rate was 5.4% in 3Q 2026, down from 5.5% in 2Q 2026 and up 20 basis points from 5.2% in 3Q 2025.
• Asking rents: Average asking rent reached $2,323 per unit per month, up 0.6% year over year.
• Net absorption: Net absorption was 4,528 units in 3Q 2026 and 10,303 units year to date, down 22.8% from 13,354 units in 2025 year-to-date.
• Construction: Deliveries totaled 4,136 units in 3Q 2026 and 10,643 units year to date, while 24,325 units remained under construction, down 11.0% year over year.
• Pricing: Average sales price was $281,576 per unit, down 7.2% from $303,283 per unit in 3Q 2025.
• Cap rates: The average cap rate was 5.9%, up 40 basis points from 5.5% a year earlier.
• Largest sale: 5550 Wilshire at Miracle Mile in Miracle Mile sold for $114,000,000 ($699,387 per unit) to Decron Properties.

Average Rent by Unit Type

Significant Sale Transactions 3Q 2026

Significant Under Construction

Significant Completed Construction 3Q 2026

Data as of 3Q 2026. Source: CoStar. Prepared by the Kidder Mathews Research Group.