Columbus Multifamily Market
New Residents and Returning Students
Expand Renter Pool, Aiding Conditions
Relocations coincide with already limited vacancy. As net in-migration to Columbus reaches its highest level since 2017, the number of households will expand by over 12,000 in 2022. Household growth will continue to drive a need for rentals at a time when double-digit increases in home prices and tapering multifamily completions limit available housing options. The resulting supply-demand imbalance will support continued vacancy compression, with unit availability slated to reach a new low this year. Fundamentals should remain historically strong outside the core, as a moderation in suburban deliveries this year will allow vacancy outside the CBD to hold below 3.0 percent.