Los Angeles Multifamily Market Report

Regional vacancy rates reflect broader consistency. Since reaching 5.2 percent in the first half of 2024, Los Angeles County apartment vacancy has declined by 40 basis points. This compression highlights the sector’s ability to withstand a period of economic volatility, which has reduced international relocations to the metro and furthered domestic out-migration. Fortunately for apartment properties, local barriers to homeownership exist for many households, with renter movement between property tiers and submarkets prohibited by sizable rent disparities. As such, vacancy ranges from 4.6 to 5.2 percent across the metro’s four primary regions: Greater Downtown Los Angeles, South Bay-Long Beach, San Fernando Valley, and Westside Cities.