LA-San Gabriel Valley, CA Multifamily Market Report | Lee & Associates | Q1 2026

Market Overview

The San Gabriel Valley multifamily market cooled in Q1 2026 amid broader macro headwinds, including geopolitical conflict, rising energy prices, and a bump in mortgage rates that caused transaction activity to take a breather, with the 10-Year Treasury yield climbing to 4.32%. Twelve-month absorption stayed slightly negative at -20 units while vacancy edged up to 5.1%, and asking rents rose modestly to $2,052 per unit even as sale pricing per unit eased to $325,000 from $328,000 the prior quarter. The prevailing theme is rising operating expenses and flattening rents pushing cap rates higher, though easing geopolitical tensions and record equity markets offer hope that transaction activity normalizes in the near term.

About Lee & Associates

Lee & Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their Q1 2026 San Gabriel Valley 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.