Figures
Orange County Multifamily Figures Q1 2025
Investors shift focus to smaller deals as economic uncertainty impacts sales
April 24, 2025 5 Minute Read
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- The Orange County (OC) multifamily market closed Q1 2025 with an occupancy rate of 96.3%, reflecting a 20 basis point (bps) decline from Q4 2024. Despite this modest decrease in occupancy rates quarter-over-quarter, the OC market experienced a 20 bps increase in occupancy year-over-year.
- A total of 164 units were delivered in Q1 2025, compared to 442 units in Q4 2024. This slowdown in construction deliveries coincided with the quarterly negative net absorption, underscoring the demand for new, well-amenitized units.
- The overall average rent per unit for multifamily properties in Orange County ended Q1 2025 at $2,861, a decrease of just $3.65 per unit from the previous quarter.
- Total multifamily investment sales in Q1 2025 amounted to $145.5 million, compared to $468 million in Q4 2024. The decline in sales volume reflects a shift in investor interest towards complexes smaller than 20 units.