Inland Empire Multifamily Figures Q1 2026

- The Inland Empire multifamily market recorded its third consecutive quarterly decline in occupancy, closing Q1 2026 at 95.4%, down 10 basis points from the prior quarter and 50 basis points from Q2 2025, driven by elevated supply following the delivery of more than 3,700 units over the past year.

- Net absorption totaled positive 132 units in Q1 2026, reversing the negative 202 units recorded in Q4 2025. The improvement reflected resilient underlying demand, supported by continued population growth and in‑migration from neighboring coastal markets, even as elevated supply persisted.

- A total of 260 units delivered in Q1 2026, modestly above the 235 units completed last quarter, with development deliveries largely concentrated in the Ontario/Chino submarket, which accounted for 210 units this quarter.

- The overall average rent per unit increased 1.0% quarter-over-quarter to $2,320 in Q1 2026. Rent growth was concentrated in older assets, where demand remained focused on affordability and less exposed to competition from newly delivered, high-end communities.

- Multifamily investment sales totaled $108.7 million in Q1 2026, down from $127.2 million in Q4 2025. Despite lower transaction volume, pricing per unit increased to $262,000, largely supported by the sale of The Hawthorne, a newly built 178 unit community in Riverside acquired by an institutional investor.