The Los Angeles multifamily market in 1Q 2026 reflects modest shifts across fundamentals, with vacancy ticking up slightly and rent levels holding steady. Construction activity continues to decelerate, while both net absorption and sales pricing softened year-over-year. Explore our full Los Angeles multifamily market report for a deeper look into current performance, development pipelines, and investment trends.
1Q 2026 Los Angeles Multifamily Market: Key Data Points
- Vacancy Rate Edges Higher: The metro vacancy rate rose to 5.6%, up 80 basis points from the previous year.
- Rents Hold Flat: Average asking rent remained unchanged year-over-year at $2,292 per unit per month.
- Construction Pipeline Contracts: Units under construction fell to 26,044, marking a 14% annual decline.
- Sales Pricing Softens: The average sales price per unit decreased 8% year-over-year to $282,900.
- Net Absorption Falls Sharply: Net absorption totaled 989 units, down 83% compared to the previous year.
- Construction Deliveries Slow: Deliveries dropped to 2,402 units, a 23% decline year-over-year.
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