Renter demand in Los Angeles moderated considerably in 2022 compared to 2021. In 2022, net absorption — measuring the number of units moved into versus moved out of last year — was almost 7,500 in L.A. County, less than a quarter of the 32,400 units absorbed in 2021. In the face of over 10,000 new net units completed in the market during the past 12 months, vacancy rates rose from 3.76% to 3.9%.
Apartment Demand in Los Angeles Comes Back Down to Earth
Renter Activity Cooled Considerably From 2021, but Market’s Position Is Generally Favorable
By Ryan Patap
CoStar Analytics
January 9, 2023 | 9:44 P.M.
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