MARKET SNAPSHOT

2026 Columbus Forecast

2025

FORECASTED ANNUAL CHANGE

2026

$1,339

Q4 AVG. EFFECTIVE RENT

1.4%

ANNUAL CHANGE

$1,358

Q4 Avg. Effective Rent

92.3%

Q4 AVG. OCCUPANCY

-20 BPS

ANNUAL CHANGE

92.1%

Q4 Avg. Occupancy

9,436

2025 COMPLETIONS

5,862

10 Yr. Avg. Annual Completions

4,107

2026 COMPLETIONS

5,973

2025 NET ABSORPTION

4,654

10 Yr. Avg. Annual Absorption

2,977

2026 NET ABSORPTION

Source: CoStar
Key Market Themes for 2026
  • Columbus’ construction cycle peaked in 2025, with completions reaching a new high of 9,100 units (+29% YoY), and new supply heavily concentrated in Delaware County and Upper Arlington, which together accounted for roughly 40% of total deliveries over the past 12 months.

  • Despite the pipeline falling to a four-year low, Columbus construction activity remains historically elevated, with 10,050 units underway (as of Dec. 2025)—well above the national benchmark of 2.7%.

  • Rent growth is expected to remain under pressure into early 2026, but Columbus is positioned for a moderate rebound as non-cyclical employment anchors absorption and a sharp 50% year-over-year decline in deliveries reduces supply-side pressure later in the year.

MARKET OUTLOOK

Columbus enters 2026 in a transition phase as the market works through the back end of an outsized supply cycle...

Featured Ohio Research Reports:

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Brian Hall

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Evan Lisle

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Keegan Feeman

Keegan Feeman

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Tyler Kishimoto

Tyler Kishimoto

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Aiden Schlueter

Aidan Schlueter

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