Lee & Assosciates 2025 Q3 San Luis Obispo CA Multifamily

Market Overview

‍The multifamily market in the San Luis Obispo, CA region is navigating a period of modest growth in Q3 2025. Vacancy climbed to approximately 7.8 percent while average asking rent reached about $2,261 per unit. New deliveries remain limited—just 17 units absorbed year-to-date through mid-year—keeping the pipeline shallow. Sales volume rose to roughly $69 million, nearly doubling year-over-year and underscoring investor interest.

‍About Lee & Associates

‍Lee & Associates is a commercial real-estate advisory and research firm with national reach. Their San Luis Obispo Q3 2025 multifamily market report combines detailed metro-level data on rent trends, vacancy, absorption, deliveries and investment activity to help owners, developers and investors assess timing, risk and strategy. To read the full report, click here.