Huntington Beach Multifamily Market Report
Market Overview
Huntington Beach is a city in Southern California, southeast of Los Angeles. Vacancy in the multifamily submarket is 3.8%, up 1.0% in the last year. There have been 150 units of negative absorption and no net deliveries during this period. Space-graded Class C is the most prevalent subtype, accounting for 7,205 units. There are 5,953 Class B and 2,622 Class A space units.
Value
Huntington Beach By the Numbers
- Delivered Units: 0
- Absorption Units: -155
- Vacancy Rate: 3.8%
- Asking Rent Growth: 2.3%
Demand
Employers
The most common job groups, by number of people living in Huntington Beach, CA, are Management Occupations (14,563 people), Sales & Related Occupations (12,974 people), and Office & Administrative Support Occupations (11,991 people). This chart illustrates the breakdown of the primary jobs held by residents of Huntington Beach, CA. – Source: Data USA
Schools
Huntington Beach has 35 elementary schools and five high schools in the market. More than 50 public and private schools offer elementary, middle, high school, and adult education to the residents of Huntington Beach. – Source: City of Huntington Beach
Where/How is the City Investing Tax Dollars?
Pierside Pavillion Expansion
The project proposes to demolish approximately 400 sq. ft. of the existing structure, including an elevator shaft and two stairwells.
Hebrew Academy Expansion
The project aims to amend a Conditional Use Permit for the Hebrew Academy. It plans to add nine classrooms; add 1,550 sq. ft. to an existing multi-purpose room; add 27 parking spaces to an existing parking lot on the north side of the campus; and add 31 parking spaces on the south side of the campus.
OC Water District Groundwater Replenishment System
To permit the expansion of a groundwater replenishment system that includes a 25 ft. high, 4,700 sq. ft. pump station; two 33 ft. high flow equalization tanks; and pipeline rehabilitation on a vacant portion of the Orange County Sanitation District (OCSD) facility.
Park Avenue Residential
Request to change the General Plan and zoning designations on the property from Open Space – Water Recreation to Residential Low Density.
