Los Angeles
Multifamily vacancy rates are holding steady even as a significant new apartment supply has come to market. According to research from NAI Capital, vacancy rates have increased nominally—only 10 basis points—throughout Southern California.
In Los Angeles, the vacancy rate is up 20 basis points to 3.8%, and in Ventura County, the rate is up 10 basis points. The Inland Empire had the most significant increase in vacancy, up 30 basis points to 4.3%, and Orange County remained flat at 4.8%.
Construction, however, is slowing. The same report shows that the construction pipeline is down 7.3% compared to a year ago with 42,992 units under construction.
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Kelsi Maree Borland
