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Overview The L.A. apartment market has witnessed notable improvements since the beginning of 2021 after experiencing the worst conditions in 2020 in over a decade. Vacancies have been trending down since peaking at the end of 2020 and are currently 3.5%. Demand, after a record-breaking 2021, has moderated in 2022 but remains historically strong. Gains in the market have been broad-based, as ...
Overview Submarket vacancy in Glendale, 2.8%, is at its lowest levels in decades. Average rents in Glendale rates trended downward through much of 2020 but recovered to pre-pandemic levels in 21Q2. Asking rates are presently growing at 5.0% on a year-over-year basis. Glendale was one of L.A.'s hotspots for new multifamily construction last decade, with more than 3,600 units delivered ...
Overview Submarket vacancy in Glendale, 3.2%, is near its lowest levels in decades. Average asking rates are presently growing at 5.2% on a year-over-year basis, but growth has stalled since the second half of 2022. Glendale was one of L.A.'s hotspots for new multifamily construction last decade, with more than 3,600 units delivered during this time. However, the current construc...
Lowered down payment requirements for multifamily homes In a significant policy change, Fannie Mae has announced that, starting from the weekend after November 18, 2023, it will accept 5% down payments for owner-occupied 2-, 3-, and 4-unit homes. This marks a departure from the previous multifamily financing requirement of 15-25% down payments for duplexes, triplexes, and four-plex...
After experiencing losses late last year, average asking rents in greater Los Angeles are on the rise. In 2023, average daily asking rents in Los Angeles bottomed out in December at $2.86 per square foot each month. Since then, upward momentum has been sustained, with average daily asking rents up around 1% from the recent low, reaching just above $2.88 per square foot each month. Rent movem...
