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583.4K

Population MULTIFAMILY
MARKET
(5-MILE RADIUS)

Reseda is classified within the Central San Fernando Valley multifamily submarket,
which typically boasts one of the lowest vacancy rates in Los Angeles. Historically
$95.4K averaging around 4%, vacancy levels dropped even lower over the last 7 years to the

3% range. Thanks to near-record-low vacancies, rent growth picked up momentum
Household Income this cycle, recording some of the metro’s highest cumulative rents gains. The
(5-MILE RADIUS) submarket’s relative affordability continues to draw renters and keep demand
strong as cost-burdened Angelenos are increasingly making the move from pricey
urban cores to the suburbs.

New construction is minimal in the area, where 90% of existing supply was built
96.5% more than 20 years ago. Strict zoning restrictions prohibiting dense, high-rise

development in most of the San Fernando Valley have further amplified the
Occupancy Rate housing shortage. On average, a meager 44 new units are built annually in the
(2019 AVERAGE) submarket, and only a handful of new apartment units came online over the last
year. With vacancies near historic lows and rents at all-time highs, welcomed
multifamily deliveries will help to fill a notable void and meet the demand for new,
highly amenitized product.
3.3%

Rent Growth
(2019 AVERAGE)

10 Source: CoStar