East Bay, CA Multifamily Market Report | Lee & Associates | Q1 2026

Market Overview

The East Bay multifamily market closed Q1 2026 with strengthening fundamentals, as net absorption totaled 518 units and vacancy declined to 5.0%, continuing a tightening trend. Asking rents rose to $2,605 per unit while average sale prices climbed to $374,231 per unit, with cap rates holding stable at 5.1%, reflecting sustained investor confidence. Construction activity remained limited at 181 units, constraining new supply against a backdrop of total inventory holding near 41,545 units, and a $190 million Walnut Creek transaction underscored continued institutional demand for the market.

About Lee & Associates

Lee & Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their Q1 2026 East Bay multifamily market report tracks net absorption, vacancy, asking rents, sale pricing, and top transactions to help investors and owners assess current market conditions. To read the full report, click here.