California Opportunity Zones

About California Opportunity Zones

California has 879 designated Qualified Opportunity Zones, the most of any state, spread across 57 counties and representing the full breadth of California's economic and geographic diversity. Los Angeles County leads with the highest number of zones, followed by San Bernardino, Fresno, and Riverside counties. California's OZ footprint spans urban neighborhoods in the Bay Area and Los Angeles, agricultural communities in the Central Valley, and rural areas along the coast and in the north.

California OZs have attracted billions in Qualified Opportunity Fund investment since 2018, with major activity concentrated in multifamily housing, mixed-use urban development, and technology-adjacent commercial projects in Los Angeles, Oakland, Sacramento, and the Inland Empire. Despite the state's high cost basis, the combination of strong rental demand, population density, and long-term appreciation potential continues to attract significant capital.

All current OZ 1.0 designations remain in effect through December 31, 2028. California's scale, nearly 900 zones covering some of the most supply-constrained real estate markets in the nation, ensures it will remain one of the most active OZ states through the end of the program.