Apartment Market Trends

Apartment submarkets in Los Angeles and Orange counties, ranked by average vacancy rate:

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Average Average Rank by Rank Submarket vacancy rent avg. rent 1 Airport/Irvine area 3.0% $1,035 1 2 Northern Orange County cities 3.1 805 7 3 Central Orange County cities 3.2 794 8 4 Coastal Orange County 3.6 950 3 5 Southern Orange County cities 4.0 1,030 2 6 South Bay 4.0 857 4 7 Ventura Boulevard Corridor 4.2 815 6 8 Glendale/Burbank/Pasadena 4.2 658 13 9 West Hollywood 4.8 768 9 10 Westside 5.1 820 5 11 Mid-Wilshire 5.3 670 12 12 Hollywood 5.9 678 10 13 San Gabriel Valley 6.1 610 18 14 South Los Angeles 7.0 677 11 15 West San Fernando Valley 8.7 626 15 16 Van Nuys/North Hollywood 9.1 600 20 17 Long Beach/Lakewood 9.5 626 14 18 South Bay North 9.5 621 16 19 Northeast San Fernando Valley 9.7 600 19 20 Mid-Cities 11.0 610 17 21 Central/East Los Angeles 11.1 552 21 22 Los Angeles Corridor 12.0 526 22

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Source: Marcus & Millichap