Holding Firm Amid Rising Supply
Columbus fundamentals improved slightly in the first quarter, with steady demand still meeting strong supply, according to the latest Yardi Matrix Columbus multifamily market report. As of February, the average advertised asking rent was flat on a trailing three-month basis, at $1,355. Even so, Columbus outperformed the U.S., with the national figure contracting 0.1%, to $1,740, as reported in the U.S. multifamily outlook. Meanwhile, the metro’s occupancy in stabilized assets slid 20 basis points below the 94.3% national average.
Columbus employment increased 1.4% through December, far out pacing the 0.6% U.S. figure. Growth was supported by 13,800 net new jobs added in 2025, with the government sector adding the most positions (4,100). The local economy is also getting a boost from Ohio State University’s newly delivered 26-story University Hospital, which spans 1.9 million square feet. The tower will be staffed by 12,000 health-care professionals and support personnel.
In the first two months of the year, Columbus added 792 apartments. Developers also had some 13,500 units under construction across the metro as of February. Meanwhile, investment activity registered a subdued start to the year, with multifamily transactions reaching less than $30 million year-to-date through February. This, however, came on the heels of $774 million in deals closing in 2025 and $989 million in 2024.
Read the full Yardi Matrix Columbus Multifamily Market Report: April 2026
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