Los Angeles city downtown witnessed one of the most important declines in building apartments among the 50 largest cities in the United States, according to a new report from RentCafe.
Real estate data website found that only 19.1 % of the new apartments that were built in Los Angeles between 2020 and 2024 were present in the city center area. This represents a decrease from 31 points from the past decade, when 50.5 % of the construction of new apartments in the city center has been concentrated.
The study found that a total of 5,792 new apartments were built in the center of Los Angeles between 2020 and 2024.
Rentcafe’s analysis indicates that the city center of Los Angeles has been strongly affected by the emergence of work since the Covid pandemic, which prompted the developers to focus their attention elsewhere.
“When cities re -evaluate their strategies in the city center in the aftermath of mixed action (in full term), few witnessed a more dramatic decrease than Los Angeles,” the authors pointed out.
Despite this shift in the new construction, Rentcafe said, “Adaptive Reuse” – the reuse of existing buildings is still a worker in the formation of downtown Los Angeles.
The transformed buildings accounted for 14.5 % of the Los Angeles downtown units in this contract, the same percentage as in 2010.
Washington has witnessed the largest number of new apartments in the city center among the largest American cities between 2020 and 2024, or nearly 23,000 units, followed by Long Beach, California; Milwoki Detroit and San Francisco.