Market Report
Riverside-San Bernardino Multifamily Market Report
1Q 2026
Apartment Vacancy Declines for Second Year
Even Amid Trade Challenges to Staple Industries
Job market supporting hiring outside logistics sector. The Inland Empire’s largest submarkets entered 2026 with varying vacancy trends. In the Palm Springs-Coachella Valley, home to the metro’s largest rental stock, vacancy rose above 6 percent last year. An annual decline of roughly 60 percent in deliveries will relieve some pressure, but near-term demand forces are mixed. Resilient tourism spending should help hiring in a key local industry. However, national logistics challenges weigh on regional employers. Even so, the opening of the Desert Hot Springs Amazon Warehouse should boost local Class C rental demand. In Riverside proper, vacancy temporarily rose 50 basis points last year due to a spike in deliveries. However, marginal completions are projected there this year. Similarly, the city of San Bernardino continues to record limited inventory growth, with vacancy likely to hold in the 4 percent range this year.
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