A recent RentCafe report highlights a significant decline in downtown Los Angeles apartment construction, falling from 50.5% a decade ago to just 19.1% between 2020 and 2024. The total number of new apartments built during this period was 5,792, with a notable impact from the rise of remote work following the COVID pandemic. While new construction has plummeted, adaptive reuse of existing buildings has remained steady, accounting for 14.5% of new units, mirroring trends from the previous decade. Washington, DC leads in new downtown apartments nationally during this timeframe.
Only 19.1% of new apartments built in Los Angeles between 2020 and 2024 were located in the downtown area, a significant decline from previous decades.
As cities reassess their downtown strategies in the wake of hybrid work, few have seen a more dramatic decline than Los Angeles.
Despite the decline in new construction, adaptive reuse continues to shape downtown L.A. housing, with converted buildings representing 14.5% of new units.
Washington, DC, tops the list for new downtown apartments built between 2020 and 2024, while Los Angeles struggles with remote work's impact on development.
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