Southern California Apartment Demand Catches Up With Supply: Net Absorption Beats Deliveries in All Four Major Markets
A Chapa Commercial Group analysis of CoStar third-quarter data shows net apartment absorption exceeded new deliveries in all four major Southern California markets, with vacancy falling across the board.
Los Angeles absorbed 4,528 units against 4,136 deliveries, with vacancy down to 5.4% and average asking rent at $2,323. Orange County absorbed 1,166 units against 407 deliveries, with vacancy at 3.9% and rent at $2,762. The Inland Empire absorbed 1,220 units against 727 deliveries, with vacancy at 5.3% and rent at $1,997. San Diego absorbed 2,366 units against 550 deliveries, with vacancy at 5.0% and rent at $2,462.
CoStar has raised its projection for annual rent growth at the end of 2027 from 1.9% to 2.6%.
Source: Chapa Commercial Group
Published by GSM · USA (original Chinese edition)
Photo: 洛杉矶北好莱坞一处新建高密度公寓。图：经 Wikimedia Commons（授权见该站文件页）。 / A new high-density apartment building in North Hollywood, Los Angeles. Photo: via Wikimedia Commons (see the file page there for license terms).
