How Will the Los Angeles Olympics Change the Real Estate Market?
The countdown is officially on: The City of Angels will transform into a metropolis of Olympians when Los Angeles hosts the 2028 Summer Olympics.
Existing venues spread across Los Angeles County will become the global stage for the world’s best athletes, drawing 10,500 Olympians, 6,000 Paralympians, plus tens of thousands of visitors from all over the world. New events like flag football, squash, and paraclimbing will make their debut. And Los Angeles Mayor Karen Bass says she has big goals for LA28, leveraging the international sporting event to help grow local small businesses and bring about lasting transportation improvements.
All of this will undoubtedly affect real estate in Los Angeles County. The questions are how, when, and where.
“The excitement around the Olympics will undoubtedly drive demand in L.A.’s real estate market,” says Justin Godur, finance adviser, real estate expert, and founder of Capital Max, a startup that provides advisory services in the real estate niche. “We can expect to see increased interest as early as 2026, with certain neighborhoods—particularly those near the venues—becoming hot spots.”
The 2028 Summer Games (which are scheduled to take place from July 14 to July 30, 2028) will complete a trilogy for Los Angeles, which previously hosted the Olympic Games in 1932 and 1984. It will be the first time Los Angeles welcomes the Paralympics, which are planned for August 22 to September 3, 2028.
Here’s more on how the 2028 Summer Olympics will heat up the Los Angeles market, and what it means for buyers, sellers, renters, and existing residents.
New Infrastructure Will Be a Boon For Real Estate
Los Angeles’s planners are building on the sustainability initiatives that played out in Paris, vowing to not build any new permanent structures solely for the Olympics.
The city’s recent sports complex boom certainly helps. SoFi Stadium, which debuted in September 2020 in Inglewood on the site of the former Hollywood Park horse tracks, has already hosted a Super Bowl. The home turf for the Los Angeles Rams and Los Angeles Chargers, it’s largest indoor-outdoor stadium in the NFL. For the 2028 Summer Games, it’ll get a pop-up pool and host swimming events. With a capacity of more than 40,000, it’ll be able to accommodate double the usual number of fans of that Olympic sport. Next door to SoFi, the Intuit Dome, home of the Los Angeles Clippers, will host basketball for the 2028 Summer Games. The stadium opened this month ahead of the NBA season.
Areas like Inglewood are already benefiting from the development at and around SoFi Stadium and are well poised for a continued boom, Godur says.
The city’s plans to expand rail systems, boost other transportation options, spiff up the convention center, and make a series of airport improvements will all have a lasting effect on the region and bring more real estate demand, experts say.
The big story over the next few years is going to be L.A.’s public transportation, especially its ambitious new subway line construction projects, according to Anthony Vulin, owner and broker of The Collective Realty in West Hollywood and Director of the California Association of Realtors. Thanks to the Olympics, transportation improvements are on the fast track, Vulin says. LA28 has ambitious goals to be “car-free.” In March, the Mayor’s office secured nearly $900 million in federal funding to strengthen infrastructure and expand the Metro Rail system. A big list of traffic improvement projects, like building public transit through the Sepulveda Pass, are also being expedited through a plan called “Twenty-eight by ’28.”
“In the past, we have seen areas around subway stops boom in new construction, and home values have soared,” says Vulin, who’s also the past president of the Greater L.A. Association of Realtors. “Realtors are already talking to their clients about where the new lines will be and how it could boost home values once completed.”
Home Prices Will Likely Go Up
From the Hollywood Walk of Fame to the Santa Monica Pier and popular filming sites, Los Angeles is no stranger to the spotlight. But Los Angeles County is a big place, with 88 cities spread out over 4,060 square miles.
The 2028 Olympics will be a great time for L.A. to really show off its best angles, including its many beautiful neighborhoods, food scene, museums, and markets, real estate agent Samantha O’Connor with O’Connor Estates, a luxury Los Angeles real estate firm, says. “The energy the Olympics bring to a city coupled with the perfect weather and stunning landscape will get people excited about the real estate here,” O’Connor says. “Who knows, maybe an athlete will want a pied-à-terre in Malibu?”
Average home prices in Los Angeles County are currently $883,000, more than double the national average, according to Zillow. The Olympics will likely drive up property values, and, Godur says, the rental market will see a surge, particularly in short-term rentals.
“This could lead to a temporary spike in rental prices, especially in the years leading up to the event,” he says. “Property owners near event sites should consider the potential for lucrative short-term rental income during the Games.”
The Olympics will no doubt bring global attention to L.A., boosting property values and revitalizing certain areas, Godur says. However, this influx could also lead to gentrification, pricing out long-time residents, he cautions. The key is to balance development with community needs, something he’s seen both achieved and missed in previous host cities.
“In L.A., the legacy will depend on how well the city manages this growth while maintaining its unique character,” Godur says.
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