Los Angeles’ current multifamily vacancy rate, which sits at around 3 percent, suggests rents will continue to grow in 2016 and the upcoming wave of apartment deliveries will be absorbed. If high single-digit or double-digit rent growth continues next year buying should be a cheaper option than leasing for those that can afford it.
- Twenty-seven LA submarkets experienced year-over-year rent growth of 10 percent or more.
- The volume of multifamily deliveries next year will double 2015 totals.
- Multifamily deliveries will be concentrated within two primary submarkets.