Orange County Multifamily Figures Q2 2026

— The Orange County multifamily market closed Q2 2026 with an occupancy rate of 96.4%. This represented a 30-bps increase from Q1 2026 as demand outpaced new supply in Q2 2026.

— There was positive absorption of 1,958 units in Q2 2026, compared to 363 units of positive absorption in Q1 2026. North Irvine comprised the majority of net absorption, totaling 1,316 units. Renters filled newly delivered space across the market, leading to strengthened leasing activity.

— There were 1,299 units delivered in Q2 2026, compared to 461 units in Q1 2026 as developers saw increased funding for new development.

— The overall average rent per unit per month for multifamily in Orange County ended Q2 2026 at $2,944, which was up 1.7% from Q1 2026 as landlords regained pricing power from elevated demand amid tighter vacancy.

— The total multifamily investment sales in Q2 2026 amounted to $262.6 million in total volume, compared to $206.6 million in Q1 2026. The increase in sales volume was primarly driven by two larger deals that were transacted in Garden Grove and Santa Ana, accounting for 75% of total sales.