Orange County, CA Multifamily Market Report | Matthews | Q4 2025

Market Overview

Orange County posted some of the strongest multifamily fundamentals in Southern California through Q4 2025. Vacancy held near 5.9%, asking rents reached $2,100 per unit with annual growth of 3.2%, and 1,900 units were absorbed during the quarter. Per-unit pricing of approximately $387,100 and cap rates compressing to 4.1% reflect the scarcity premium that defines this market. Construction has remained well below historical averages, with the constrained pipeline reinforcing supply discipline across the county. An employment base anchored by Disneyland, UC Irvine, and a deep healthcare sector continues to support household demand, and institutional investor confidence in the market's long-term fundamentals remains firmly intact.

About Matthews

Matthews Real Estate Investment Services is a national commercial real estate brokerage and advisory firm serving multifamily owners, investors, and developers across major U.S. markets. Their Orange County, CA Q4 2025 multifamily market report tracks vacancy, rent growth, cap rates, and sales volume to help clients assess market conditions and refine investment timing. To read the full report, click here.