Tri-Cities, CA Multifamily Market Report | Lee & Associates | Q4 2025

Market Overview

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The LA Tri-Cities market of Burbank, Glendale, and Pasadena closed Q4 2025 with vacancy at 4.7%, up from 3.9% a year prior, as more properties entered the market and ownership costs climbed. Stricter rent control, higher insurance premiums, and Burbank's new annual rent cap for pre-1995 properties have pushed acquisition cap rates above 6% in parts of the submarket. Asking rents softened modestly to $2,548 per unit, and sale pricing averaged $401,000 per unit. Against that pressure, the construction pipeline contracted sharply to 630 units from 1,490 a year ago, and transactions continued on the strength of a persistent housing shortage and available capital.

‍About Lee Associates

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Lee Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their LA Tri-Cities Q4 2025 multifamily market report tracks absorption, vacancy, asking rents, and capital markets activity to help investors and owners assess market conditions. To read the full report, click here.