Los Angeles, CA Multifamily Market Report | Yardi Matrix | Q4 2025

Market Overview

Los Angeles entered Q4 2025 with multifamily fundamentals largely unchanged from the prior year. Average asking rents held flat on a trailing three-month basis through September at $2,646, outperforming the national average, which contracted 0.1% to $1,750. Occupancy in stabilized assets was also unchanged year-over-year at 96.0% in August, sitting 130 basis points above the U.S. average. The market absorbed 9,168 delivered units through September with another 25,700 underway. Employment growth slowed to 0.3% through July, trailing the national rate, with six sectors shedding 33,700 jobs offset by 56,000 gains in education and health services. Investors traded $1.4 billion in assets, with most activity concentrated in the Renter-by-Necessity segment. The metro's $30 billion airport transformation ahead of the 2026 FIFA World Cup and 2028 Olympics remains a major long-term economic driver.

About Yardi Matrix

Yardi Matrix is a national commercial real estate data and analytics firm serving investors, developers, and property managers across asset classes. Their Los Angeles November 2025 multifamily market report covers asking rents, occupancy, construction pipeline activity, and investment volume to help owners and investors assess market conditions. To read the full report, click here.