Orange County, CA Multifamily Market Report | Colliers | Q1 2026

Market Overview

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Orange County's multifamily market held steady in Q1 2026 with occupancy at 95.9%, unchanged year-over-year, as 936 new units were delivered and 463 were absorbed. Average monthly effective rent reached $2,736 per unit, up 1.1% year-over-year, with Irvine remaining the most active submarket at 3,625 units under construction. The overall construction pipeline contracted to 5,573 units from 7,272 a year prior, pointing toward easing supply pressure ahead. Year-to-date sales volume reached $143 million, up 32% from Q1 2025, and the average price per unit rose to $429,078, a 1.3% year-over-year gain, reflecting continued investor confidence in one of Southern California's most supply-constrained coastal markets.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 60 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Orange County multifamily report tracks occupancy, rents, absorption, deliveries, and investment sales activity across 10 submarkets to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.