Los Angeles Multifamily Market Report

Although slow to bounce back, the Los Angeles multifamily market has improved since the pandemic. Vacancies are trending down, rent is on a robust trajectory, and demand is strong. Gains are recognizable in almost all the Los Angeles metropolitan areas, and the economy possesses many positive attributes. Although it’s been said people are moving out of California for more tax-friendly states that offer a better cost of living, people making six-figure paychecks are moving to Los Angeles rather than leaving. The market has witnessed elevated construction levels over the past couple of years. Currently, approximately 28,000 units need to be adsorbed in the coming quarters. The most receptive areas are Downtown Los Angeles and Koreatown. Despite numerous hindrances in government overreach and some of the nation’s highest prices and lowest cap rates, investment in the metro is active.