West Region Apartment Occupancy Forecasted to Increase

The base case RealPage outlook suggests that apartment occupancy in the West region has bottomed out and is likely to increase over the next couple years. West region apartment occupancy hit a decade low at 94.9% in early 2024. That was the first time since 2013 that West region apartment occupancy hit below the 95% mark. Moving forward, RealPage forecasts a return to consistent occupancy ahead of that essentially full mark. Some headwinds will continue for Class A properties, especially in higher supply markets and submarkets across the West. But for the region overall, look for occupancy to increase by about 50 to 100 basis points between now and 2026.

For more information on the state of apartment markets in the West region, watch the webcast Market Intelligence: Q3 West Coast Update.