Huntington Beach, CA Multifamily Market Report
Overview
Huntington Beach, located in Orange County, CA, is a vibrant coastal city known for its stunning beaches, surfing culture, and outdoor recreational activities. Within the submarket, the Class C segment is the most dominant subtype, with 7,222 units. There are 5,721 Class B units and 2,886 Class A units. In the last three years, there have been 52 transactions, amounting to a total trade value of around $468 million. The market cap rate has risen to 4.2%, surpassing its average rate of 3.8% over the past three years.
Over the last three years, rental prices have seen a cumulative rise of 22.3%. The multifamily submarket in Huntington Beach has a vacancy rate of 3.1%, showing a decrease of 0.6% in the last 12 months. During this period, 92 units have been absorbed, and there have been no net deliveries. Rental prices stand at approximately $2,690 per month, reflecting a 3.1% increase compared to a year ago. Notably, there are no ongoing construction projects at the moment.
By The Numbers | In the Past 12 Months | Source: CoStar Group
- Units Absorbed: 93
- Rent Growth: 3.1%
- Vacancy Rate: 3.1%
- Sales Volume: $262M
Economy
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).
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.
To read a previous Huntington Beach Multifamily Market Report, please click here.
