Anaheim was the Only Large Apartment Market to Post Net Move-Outs in 1Q25

Of the nation’s 50 largest apartment markets, only one logged net move-outs during the first three months of 2025. Anaheim, with nearly 272,000 existing units, saw its occupied unit count drop by 319 units during 1st quarter, according to data from RealPage Market Analytics. Throughout RealPage's 29-year data set for Anaheim, net move-outs occurred during the 1st quarter roughly half the time (15 of 29 1st quarters). For comparison, the other large Southern California markets of Los Angeles, Riverside and San Diego posted quarterly absorption of roughly 1,900 units to 3,400 units during 2025’s 1st quarter. Among Anaheim’s 16 submarkets, nine recorded net move-outs in 1st quarter, with some of the worst showings concentrated in the three Irvine submarkets (-309 units in total). Anaheim’s net move-outs during the quarter left overall demand in the year-ending 1st quarter 2025 at 2,595 units, the second-weakest result among the nation’s largest markets, ahead of only Memphis (2,166 units). Still, occupancy has remained strong in Anaheim, above 96% for nearly five years and above 95% for 13 years. Occupancy in the market averaged 96.3% during 1st quarter 2025, the fourth-strongest reading among large markets, behind only New York, Newark and San Francisco.