Orange County Medical Outpatient Figures Q4 2025

In Q4 2025, Orange County’s medical office sector saw mixed signals as net absorption remained negative while leasing activity slightly increased. However, asking lease rates remained stable at $2.83 FSG in Q4 2025 and medical outpatient buildings were still a focal point for investors. By December 2025, healthcare employment reached 182,800 jobs, marking a quarter-over-quarter increase of 1,800 jobs and a year-over-year growth of 5.7%. The vacancy rate increased 40 basis points (bps) to 7.5% and the availability rate increased 30 bps quarter-over-quarter to 11.4%. The Orange County market showed negative total net absorption for the fourth consecutive quarter, ending at 37,285 sq. ft. of space becoming vacant. The negative net absorption was driven by sub-10,000 sq. ft. move outs across the market. Due to limited development and consistent demand, the OC medical office sector is showing strength moving into 2026.