Los Angeles, CA Multifamily Market Report | Matthews | Q4 2025

Market Overview

Los Angeles held its position as one of the most supply-constrained multifamily markets in the country through Q4 2025. Vacancy settled at 5.4% as 1,800 units were absorbed during the quarter, and asking rents reached $2,100 per unit with annual rent growth of 2.0%. Per-unit pricing of $319,109 and a cap rate of 5.1% reflect sustained investor confidence in quality and location. Construction remained near decade lows at 7,100 units underway, keeping new supply from pressuring fundamentals. An economic base anchored by entertainment, aerospace, and defense, combined with three major upcoming global events, supports the long-term demand outlook.

About Matthews

Matthews Real Estate Investment Services is a national commercial real estate brokerage and advisory firm serving multifamily owners, investors, and developers across major U.S. markets. Their Los Angeles, CA Q4 2025 multifamily market report tracks vacancy, rent growth, cap rates, and sales volume to help clients assess market conditions and refine investment timing. To read the full report, click here.