Columbus Multifamily Market Report

CBD-suburban divide grows. Downtown Columbus ended 2025 with vacancy at a record high of 8.1 percent, while suburban vacancy fell to 4.2 percent. Suburban demand was supported by faster population growth outside the broader core, helping lift net absorption to its highest level since at least 2001. CBD demand grew, but a sustained wave of deliveries continued to outpace absorption, keeping vacancy elevated. This pressure will ease but persist in 2026, while the CBD’s share of new supply is set to fall to 15 percent in 2027 after averaging 25 percent since 2022, pointing to a more favorable longer-term outlook.