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Market Report

Columbus Multifamily Market Report

2Q 2024

Economic Growth and In-Migration Position
Columbus to Handle Another Round of New Rentals

Deliveries remain elevated in the second half. The completion of Intel’s chip plant has been pushed back; however, other corporate expansions will make an immediate local impact. During the first quarter of 2024, Amgen opened a production facility in New Albany and Star Charge commenced operations at its EV charger plant in Columbus. Existing companies are also growing, highlighted by Ease Logistics establishing a new 700-employee headquarters in Dublin this year. Amid a period of labor tightness, developers are counting on this economic growth to facilitate in-migration that will foster apartment leasing. As of April, construction was underway on 9,100 units metrowide. While these deliveries will test demand, especially in areas that added a number of units over the past year, low vacancy in other parts of the metro will provide some overall stability. 
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