Demand remains healthy and above historical norms, but new supply is still arriving faster than move-ins and placing downward pressure on rent growth and occupancy rates.
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Average occupancy sits below historical norms, with gradual improvement expected as the construction pipeline tapers and lease-ups progress. Submarkets with lighter pipelines are stabilizing first, followed by urban core areas as construction activity begins to decline.
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Rent growth is modest and uneven across submarkets and classes, but holding slightly above the national pace and similar to regional peer markets.
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MARKET OUTLOOK
Columbus enters late 2025 with healthy underlying demand but ongoing supply pressure...
