Market Report
Columbus Multifamily Market Report
2025 Investment Forecast
Tight Conditions and Growing Rental Demand
Poised to Heighten Competition for Columbus Investments
Affordable lifestyle attracts young professionals. Columbus’s low cost of living and expanding job market will drive one of the largest population growth rates among major Midwest metros this year. Northern areas such as New Albany are experiencing a notable influx of residents, spurred by the construction of Google and Amazon’s new data centers, along with Intel’s manufacturing plant. A growing logistics presence in southern neighborhoods like Lincoln Village and the opening of Honda’s battery factory this year, 30 miles southeast of Columbus proper, should also attract residents. Developers have pursued these economic centers, becoming most active in affluent northern suburbs like Dublin and Westerville. That said, property fundamentals here should remain sturdy, as a record number of completed units in the area last year failed to raise vacancy above 5 percent, supporting rent growth around 4 percent. In contrast, vacancy in the city center climbed to over 7 percent last year, stalling rent gains — a trend likely to persist with over 2,000 units set for delivery this year. Nevertheless, projects like the city’s $8 billion transit infrastructure investment could enhance the CBD’s long-term rental appeal.
TO READ THE FULL ARTICLE
