Inland Empire multifamily market reports

Q2 2024

176,136

Inventory (units)

Multifamily inventory totaled 176,136 units for Q2 2024, accounting for 1,130 buildings. Inventory continues to grow in the Inland Empire, as multifamily development activity has surged during the last several years following the pandemic.

5.8%

Vacancy Rate

The total vacancy rate for Inland Empire multifamily decreased 50 basis points from 6.3% in Q1.

$182m

Sales volume (Q2 2024)

Sales volume (by $) has picked up drastically in Q2 with a volume of $182m. This is nearly a $150m increase from the first quarter of 2024. The increase in volume for the second quarter of 2024 has a large impact to the sale of the Bell Murrieta Springs for $146.5m, one of the largest Inland Empire apartment sales in the last few years.

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