Key Takeaways
- Long Beach approved 5,210 new housing units from 2023–2025 — the most in a three-year span since the 1980s — signaling a sustained shift in the city’s development trajectory.
- The Elevate ’28 Infrastructure Investment Plan has grown to a $1 billion program, deploying Measure A funds and state and federal grants across the city’s most critical corridors.
- The Atlantic Avenue corridor is undergoing a major transformation, with new demolitions, mixed-use development, and complete street improvements from Ocean Boulevard to the 405 Freeway.
- Long Beach’s housing market shows signs of recovery: median listing price at $729,000 (+1.4% YoY), days on market below the national median, and 2026 price forecasts of +1.1% to +3.6%.
- Key investment opportunities include multifamily value-add, ground-up development, national-tenant retail, and ADUs — with 747 ADU permits issued in 2024 alone.
Long Beach approved over 5,200 new housing units in just three years — a 147% increase over the prior period. Combined with a $1 billion infrastructure plan, a $150 million downtown development, and rising inventory, the city is entering a new era of growth that’s reshaping neighborhoods across the region.
A City Building Again
For years, Long Beach lagged behind its Southern California peers in housing production. In 2014, the city permitted just 300 construction projects. A decade later, that number surged to 1,704 permits in 2024 alone.
The numbers tell a clear story: from January 2023 through November 2025, Long Beach approved entitlements for 5,210 housing units, including 1,117 affordable homes — averaging more than 1,700 new units per year. It’s the most housing approved in a three-year span since the 1980s.
This isn’t just a response to state mandates. Over 60 new housing bills signed by Governor Newsom in 2025 have accelerated the process statewide, but Long Beach has gone further by streamlining its internal permitting and entitlement processes — creating what city officials describe as "repeat customers" among developers who keep coming back.
Major Projects Reshaping Downtown
The most visible sign of this momentum broke ground in January 2026: JPI’s Portico development, a $150 million, 272-unit mixed-use community at 450 The Promenade North. The eight-story building is the first phase of a 900-unit master plan to redevelop the former City Place Long Beach — now rebranded as the Mosaic shopping center.
Portico will deliver studios through three-bedroom apartments alongside 18,841 square feet of ground-floor retail when it opens in mid-2028. Premium amenities include a speakeasy, rooftop deck, golf simulator, and pool deck.
Meanwhile, three affordable housing developments entered construction heading into 2026:
- The 101 at 101 E. Pacific Coast Highway — 51 apartments for formerly unhoused residents
- 300 Alamitos north of Alamitos Beach — 81 apartments for lower-income seniors
- Habitat for Humanity Townhomes on Orange Avenue in North Long Beach — family-sized homes offering a path to homeownership
Additionally, a 163-unit affordable development at 1400 Long Beach Boulevard from Meta Housing Corp. is expected to welcome residents in mid-2026.
The Atlantic Avenue Corridor: A Transformation Underway
One of Long Beach’s most significant revitalization stories is unfolding along Atlantic Avenue — a corridor stretching from the waterfront through the heart of the city’s Uptown neighborhoods.
In July 2025, the city held a demolition ceremony for commercial properties at 5641–5649 Atlantic Avenue in North Long Beach, clearing the way for new investment. Mayor Rex Richardson called it "an exciting step toward the further revitalization of the Uptown community," while the city positions the corridor for modern mixed-use development.
The Atlantic Avenue corridor is also a centerpiece of Long Beach’s Elevate ’28 Infrastructure Investment Plan, which has grown into a $1 billion program funded by voter-approved Measure A dollars and state, federal, and regional grants. The plan includes complete street improvements along Atlantic Avenue from Ocean Boulevard to the 405 Freeway — encompassing roadway upgrades, pedestrian safety enhancements, and accessibility improvements.
This transformation directly impacts investors and property owners along the corridor. As the city invests in infrastructure, streetscape improvements, and development-ready parcels, properties positioned along Atlantic Avenue stand to benefit from increased foot traffic, improved accessibility, and a rising neighborhood profile.
New Century Development’s 402 Atlantic Avenue project is situated at the center of this revitalization wave. The firm’s approach to environmental remediation and infill redevelopment along Atlantic Avenue reflects the kind of thoughtful, ground-up investment that contributes to the corridor’s transformation — converting underutilized sites into productive assets that serve the community’s growth.
What the Market Data Says
The housing market in Long Beach appears to have turned a corner. After nearly a year of price declines, month-to-month data began showing growth in late 2025, suggesting the bottom of the current cycle may already be behind us.
Key indicators for early 2026:
- Median listing price: $729,000, up 1.4% year-over-year
- Active listings: 390 homes in January 2026, up 15.4% year-over-year
- New listings: Up 38.8% year-over-year, far outpacing the national 0.7% growth rate
- Days on market: 66 days, faster than the 78-day national median
- Price forecast: +1.1% to +3.6% appreciation expected for 2026
Sources: Realtor.com Long Beach Market Trends, Home Buying Institute
The surge in inventory — driven by a 38.8% increase in new listings — is giving buyers more options without depressing prices. That combination of rising supply and resilient pricing signals a healthy, maturing market rather than a correction.
Affordability remains a challenge statewide: potential homeowners needed an average $221,000 annual income to buy a median-priced home in late 2025. Rents in Long Beach have climbed 25% since 2019, with a 1,200-square-foot apartment now averaging over $3,100 per month. This pricing environment continues to support multifamily investment and value-add strategies in the region.
ADU Growth: A Quiet Revolution
Long Beach has emerged as a statewide leader in accessory dwelling unit (ADU) construction. In 2024, the city set a new record with 747 ADU permits issued — expanding housing options within existing neighborhoods without requiring large-scale new construction.
Roughly 40% of Long Beach’s housing stock consists of detached single-family homes, which occupy a significant share of land in a coastal city that’s largely built out. State and local ADU reforms have made it far easier and less expensive for homeowners to build secondary units — creating what officials describe as the largest source of new housing permits in the city.
For investors, the ADU trend offers dual value: existing property owners can add income-producing units, while the broader supply expansion helps stabilize neighborhood markets and attract new residents.
What This Means for Real Estate Investors
Long Beach’s development trajectory creates several distinct opportunities:
Multifamily value-add. With rents rising 25% since 2019 and strong demand from renters priced out of homeownership, well-located multifamily properties — particularly in transitioning corridors — offer compelling upside. New Century Development’s value-add multifamily strategy targets precisely this dynamic across its Southern California portfolio.
Infrastructure-driven appreciation. The Elevate ’28 plan represents the kind of sustained public investment that historically lifts surrounding property values. Properties along the Atlantic Avenue corridor, Pacific Coast Highway, and other improvement zones may see the greatest near-term benefit.
Ground-up development. With entitlements flowing at record pace and the city actively courting developers through improved permitting processes, ground-up development opportunities remain strong — particularly for firms with experience navigating environmental remediation and infill sites.
National-tenant retail. As new residential density comes online, demand for neighborhood-serving retail increases. Properties anchored by national-credit tenants in growing corridors benefit from both the rent stability of established operators and the foot traffic generated by new housing.
Looking Ahead
Long Beach is not slowing down. With additional affordable housing projects under construction, market-rate developments moving through entitlements, and the Elevate ’28 plan deploying over a billion dollars in infrastructure improvements, the city is positioned for sustained growth through the rest of the decade.
For investors, the window is narrow. As mortgage rates are projected to decline toward 6% through 2026, buyer competition will intensify. The development pipeline suggests today’s transitioning neighborhoods are tomorrow’s established destinations.
Frequently Asked Questions
Is Long Beach a good place to invest in real estate in 2026?+
Yes. Long Beach approved 5,210 new housing units between 2023 and 2025, signaling a strong institutional and municipal commitment to growth. The housing market has shown resilience with a median listing price of $729,000, up 1.4% year-over-year, and price forecasts of +1.1% to +3.6% appreciation for 2026. Rents have risen 25% since 2019, supporting multifamily returns. Layered on top of this is over $1 billion in planned public infrastructure investment through the Elevate ’28 plan — the type of sustained government spending that historically drives surrounding property values higher.
How much are homes in Long Beach CA in 2026?+
As of early 2026, the median listing price in Long Beach is $729,000, up 1.4% year-over-year. Active inventory stands at approximately 390 homes, up 15.4% from the prior year — a sign that the market is gaining liquidity without sacrificing price support. Homes are selling faster than the national average, with an average of 66 days on market compared to the national median of 78 days. Analysts forecast price appreciation of +1.1% to +3.6% through the end of 2026, suggesting the market has turned a corner after a period of softness in 2024.
What is the Elevate ’28 plan in Long Beach?+
Elevate ’28 is Long Beach’s comprehensive infrastructure investment program, originally launched in anticipation of the 2028 Los Angeles Olympics and now expanded into a $1 billion citywide initiative. The plan is funded primarily through voter-approved Measure A dollars, supplemented by state, federal, and regional grants. A major component is the Atlantic Avenue Major Corridor Improvement project, which includes complete street upgrades, pedestrian safety enhancements, and accessibility improvements from Ocean Boulevard to the 405 Freeway. The plan is reshaping several of the city’s most important commercial and residential corridors and is expected to drive significant near-term appreciation for adjacent properties.
What types of real estate investments work best in Long Beach?+
Four strategies stand out in the current Long Beach environment. Multifamily value-add plays benefit from rents that have risen 25% since 2019 and strong demand from renters priced out of homeownership. Ground-up development remains viable given record entitlement approvals and a city actively courting developers — particularly for firms experienced in environmental remediation and infill sites. National-tenant retail is well-positioned as new residential density drives demand for neighborhood-serving commercial anchors. Finally, ADU development offers homeowners and investors an accessible entry point: Long Beach issued 747 ADU permits in 2024 alone, making it one of the state’s leading markets for this property type.
How many new housing units are being built in Long Beach?+
Long Beach approved entitlements for 5,210 housing units between January 2023 and November 2025 — the most in any three-year period since the 1980s. This includes 1,117 affordable units and averages over 1,700 new units approved per year. In 2024 alone, the city issued 1,704 building permits and a record 747 ADU permits. Among the most significant active projects is JPI’s Portico, a 272-unit mixed-use development in downtown Long Beach that broke ground in January 2026 and is the first phase of a larger 900-unit master plan at the former City Place site.
Have questions about investment opportunities in Long Beach and Southern California? Contact New Century Development to learn how our team identifies and executes on value-creating real estate strategies in the region’s most dynamic markets.
