Columbus Multifamily Market
Report

Vacancy trends shift amid project delays. Columbus has attracted steady capital inflows since the pandemic, particularly in the technology sector, which has driven strong job creation and elevated household incomes. In 2025, the metro ranked second in the Midwest and among the top 10 nationally for income growth. Major corporate expansions — including Intel’s semiconductor facility, the Honda-LG EV battery plant, and Anduril’s Arsenal-1 — have been key drivers of this momentum. However, the pace of growth is beginning to slow. Intel’s Ohio One project has been postponed to 2030, while Amazon and Google’s data center plans in New Albany face increasing local opposition. These delays may dampen renter demand, contributing to a modest rise in metro vacancy rates. Deliveries this year are concentrated in Far East Columbus near Reynoldsburg and in the Downtown-University area. As a result, properties in the urban core are expected to see vacancy rates hover around 6 percent. Suburban submarkets remain tighter, with rates likely to fall below 4 percent, supported by steady renter demand and limited new supply.