Los Angeles, CA Multifamily Market Report | Matthews | Q3 2025

Market Overview

‍The multifamily market in Los Angeles is showing signs of pressure heading into year-end. Vacancy climbed to 5.3% in Q3 2025, its highest level since early 2021. Deliveries hit 4,300 units this quarter up 20% year-over-year, yet only about 1,800 units were absorbed, restricting rent growth to just 0.5% over the prior year with asking rents averaging roughly $2,300 per unit. A pipeline of approximately 18,200 units remains significant, meaning new supply will keep the balance loosely tilting toward tenants at least through 2026.

About Matthews

‍Matthews Real Estate Investment Services is a national advisory and research firm specialising in multifamily investment sales, debt and structured finance. Their Los Angeles Q3 2025 multifamily market report combines rent, vacancy, absorption, delivery and construction-pipeline data to help owners, developers and investors assess timing, supply risk and strategy. To read the full report, click here.