The Orange County multifamily market in Q3 2025 shows stable vacancy rates and modest rent growth, while construction activity slows and sales prices continue to rise. Explore our full Orange County multifamily market review for in-depth analysis and trends.
3Q 2025 Orange County Multifamily Market: Key Data Points
- Vacancy Rate Declines: Orange County’s multifamily vacancy rate fell 60 basis points year-over-year to 3.6% in 3Q 2025.
- Average Asking Rents Up 2%: Average asking rent reached $2,700 per month, with three-bedroom units averaging $3,435.
- Construction Pipeline Holds Steady: Units under construction declined slightly by 1% year-over-year to 6,552 units.
- Sales Prices Increase: The average sales price per unit rose 6% year-over-year to $343,046.
- New Construction Drops Sharply: New construction deliveries fell 67% year-over-year to 1,064 units YTD.
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