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Market Report

Cincinnati Multifamily Investment Forecast

2022 Outlook

Strong Pillars of Local Economy Altering Institutional Perception

Major employment sectors in a position of strength. Cincinnati enters 2022 following a year highlighted by economic resiliency and stout renter demand for Class A and B apartments. The performance of the professional and business services and education and health services industries are largely responsible for fueling these conditions as both sectors saw headcounts exceed pre-pandemic peaks during the third quarter of last year. Moving forward, these employment segments are poised for continual growth, backed by numerous medical centers and a collection of locally based Fortune 500 companies that have pledged to bolster staffs. Expansions by these organizations will support demand for higher-priced units at a time when apartment deliveries are slated to elevate, namely in the Northern Kentucky and Northwest Cincinnati neighborhoods. While supply additions may place some upward pressure on overall unit availability, vacancy rates in both the upper- and mid-tier rental sectors will hold well below their long-term historical averages this year.

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