Greater Los Angeles, CA Multifamily Market Report | Colliers | Q4 2025

Market Overview

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Los Angeles County delivered 14,563 multifamily units in 2025, a 17% increase from the prior year, bringing total inventory to nearly 977,000 units. The volume proved too much for demand to absorb: Q4 absorption turned negative at -190 units, occupancy fell to 94.5%, down 80 basis points year-over-year, and average effective rent held essentially flat at $2,279. With 26,720 units still under construction, supply pressure is not yet resolved. Investment activity reflected the soft fundamentals: year-to-date sales volume of $6.3 billion came in 21% below the prior year, and average price per unit edged down 1% to $352,501. The Westside and Downtown submarkets hold the largest shares of the active pipeline, keeping near-term lease-up competition concentrated in those corridors.

‍About Colliers

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Colliers is a global commercial real estate services firm operating across 70 countries with over $108 billion in assets under management. Their Los Angeles Q4 2025 multifamily report tracks occupancy, effective rents, absorption, new supply, and investment sales volume to help owners and investors evaluate conditions across the county's submarkets. To read the full report, click here.