Los Angeles Multifamily Report – June 2026
Fundamentals have improved after the winter lull.
Los Angeles’ multifamily market did not lose its footing in April, despite some sluggish fundamentals. Advertised asking rent growth improved slightly, with the average up 0.1 percent, on a trailing three-month basis through April, to $2,639, just 10 basis points below the national figure. Although modest, this was the first improvement after five months of contractions. Occupancy for stabilized assets in the metro slid 30 basis points year-over-year, to 95.7 percent in March.
Los Angeles’ unemployment rate stood at 5.1 percent in March, below the 4.3 percent national figure, but slightly above the 5.3 percent California rate, according to preliminary data from the Bureau of Labor Statistics. Employment growth continued to slow down and clocked in at 0.3 percent year-over-year through December, half the 0.6 percent national average. Los Angeles lost 6,700 net jobs in 2025, with only three sectors recording growth. Education and health services led gains (45,600 positions), while the largest losses were recorded in the professional and business services sector (-19,200). Major project milestones across the metro include the opening of the D Line extension’s first section and One Beverly Hills’ developers securing $4.3 billion in financing.
Construction momentum was solid, with a total of 24,121 units underway in April. During the first four months, developers added 1,995 units.
