Orange County defies national trend with steady apartment development

While many parts of the country are experiencing a slowdown in apartment construction, California's Orange County continues to buck the trend. Strategic land ownership, high barriers to entry, low vacancies and strong investor confidence have set the stage for steady supply growth. Over 3,000 units in market-rate apartments started construction in 2024, and over 1,000 started in the first half of 2025. While always limited by a lack of available space, under-construction levels have remained steady for a year at over 6,000 units.