Los Angeles Multifamily Market Report

The following reflects Los Angeles multifamily market conditions as of Q2 2026.

The Los Angeles multifamily market in 2Q 2026 remained fundamentally healthy, with renter demand continuing to outpace new supply despite a modest increase in vacancy. Average asking rents edged higher year-over-year, net absorption exceeded construction deliveries, and the development pipeline continued to contract as fewer projects moved forward. Explore our full Los Angeles multifamily market review for in-depth analysis and trends.

Frequently Asked Questions

What is the vacancy rate in the Los Angeles multifamily market in Q2 2026?

The Los Angeles multifamily vacancy rate was 5.5% in Q2 2026, according to Kidder Mathews research. That’s unchanged from the prior quarter but up 50 basis points from 5.0% a year earlier in Q2 2025, reflecting a modest easing of demand relative to new supply.

What are average asking rents for Los Angeles apartments by unit type in Q2 2026?

Average asking rents across all unit types in Los Angeles reached $2,310 per unit per month in Q2 2026 (Data source: CoStar). By unit size, Studios averaged $1,700, one-bedrooms $2,087, two-bedrooms $2,669, and three-bedrooms $3,230 per month.

How much net absorption did the Los Angeles multifamily market see in 2026?

Los Angeles multifamily net absorption totaled 2,411 units in Q2 2026 alone, bringing the year-to-date total to 4,809 units, up 1.7% from 4,728 units over the same period in 2025, according to Kidder Mathews research. Net absorption measures the change in occupied space and reflects continued renter demand outpacing new supply entering the market.

How many multifamily units are under construction in Los Angeles?

There were 25,636 multifamily units under construction in Los Angeles as of Q2 2026, down 15.4% from 30,285 units a year earlier (Data source: CoStar). The pipeline has contracted as developers pull back on new starts amid tighter financing conditions.

How many multifamily units were delivered in Los Angeles so far in 2026?

Multifamily construction deliveries totaled 2,376 units in Q2 2026 alone, bringing the year-to-date total to 6,205 units, down 8.8% from 6,807 units over the same period in 2025, according to Kidder Mathews research.

What is the average sale price per unit for Los Angeles apartments in Q2 2026?

The average sale price per unit for Los Angeles multifamily properties reached $280,591 in Q2 2026, up 3.3% from $271,557 a year earlier (Data source: CoStar).

What are current cap rates for Los Angeles multifamily properties?

The average cap rate for Los Angeles multifamily properties was 5.8% in Q2 2026, up 30 basis points from 5.5% in Q2 2025, according to Kidder Mathews research, reflecting a modest repricing of investment expectations.

What was the largest multifamily sale transaction in Los Angeles in Q2 2026?

The largest reported multifamily sale in Q2 2026 was Upland Village Green in Rancho Cucamonga, a 186-unit property that sold for $48,500,000 ($260,753 per unit). Watkins Commercial Properties purchased the asset from G.H. Palmer Associates, according to Kidder Mathews research.

What are the largest multifamily projects under construction in the Los Angeles market?

The largest project underway is 5035 Coliseum in the Crenshaw submarket, an 800-unit development from Magnum Real Estate expected to deliver in 2Q 2027. Other large projects include Alexan West End (750 units) in Downtown Long Beach and 1055 West 7th St (686 units) in City West, according to Kidder Mathews research.

What multifamily projects were completed in Los Angeles in Q2 2026?

Three notable multifamily projects delivered in Q2 2026: Habitat Residences (260 units) in Baldwin Hills and First Street North Residences (248 units) in Little Tokyo, both completed in May 2026, and The Monroe (232 units) in Monrovia, completed in April 2026, according to Kidder Mathews research.

What is the outlook for the Los Angeles multifamily market?

The Los Angeles multifamily market is expected to remain stable, with renter demand continuing to outpace new supply even as vacancy has ticked up modestly. A shrinking construction pipeline, down 15.4% year-over-year, should help support fundamentals as fewer new units come online, according to Kidder Mathews research.

Last updated: Q2 2026. Data source: CoStar. Compiled by the Kidder Mathews Research Group.

Q2 2026 Los Angeles Multifamily Market: Key Data Points

Explore our full Los Angeles multifamily market review for deeper insights into rent trends, sale activity, and submarket performance.

• Vacancy Rate Moves Higher: Los Angeles multifamily vacancy reached 5.5% in 2Q 2026, up 50 basis points year-over-year but unchanged from the prior quarter.
• Rents Continue to Rise: Average asking rents increased to $2,310 per unit per month, a 0.2% increase year-over-year.
• Development Pipeline Contracts: Units under construction fell to 25,636, representing a 15.4% year-over-year decline as new development activity slowed.
• Net Absorption Remains Positive: Net absorption totaled 4,809 units year-to-date, up 1.7% year-over-year, reflecting continued renter demand.
• Construction Deliveries Decline: New multifamily deliveries fell 8.8% year-over-year to 6,205 units year-to-date.
• Investment Sales Metrics Improve: Average sales price reached $280,591 per unit, up 3.3% year-over-year, while average cap rates expanded to 5.8%.

Average Rent by Unit Type

Significant Sale Transactions Q2 2026

Significant Under Construction

Significant Completed Construction Q2 2026