{"id":5957,"date":"2023-05-16T04:13:51","date_gmt":"2023-05-16T04:13:51","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=5957"},"modified":"2024-03-11T15:30:23","modified_gmt":"2024-03-11T15:30:23","slug":"columbus-multifamily-market-report-april-2023","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/columbus-multifamily-market-report-april-2023\/","title":{"rendered":"Columbus Multifamily Market Report \u2013 April 2023"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/columbus-multifamily-market-report\/\">Columbus Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Strong Demand Sustains Rent Gains<\/h2>\n<p>Ohio\u2019s capital <a href=\"https:\/\/www.yardimatrix.com\/blog\/columbus-multifamily-market-report-september-2022\/\"><strong>continues to appeal to tech firms<\/strong><\/a>, with companies including Google, Amazon and Meta preserving their local presence, while Intel is planning a new chip plant in the metro. Columbus\u2019 multifamily fundamentals also performed well, surpassing U.S. averages, with rents increasing slightly\u2014up 0.1% on a trailing three-month basis through February\u2014while the national rate was on a downward trend for a third consecutive month.<\/p>\n<p><iframe id=\"datawrapper-chart-AEVuO\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Columbus vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/AEVuO\/1\/\" height=\"376\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Columbus job growth continued to decelerate, up just 1.7% year-over-year as of December, trailing the 3.7% U.S. figure. Yet the market has been in expansion mode since June 2021, when it recovered all jobs lost during the pandemic. In addition, the unemployment rate dropped to record lows, at 3.4% in January, on par with the U.S. and leading the state (4.0%), according to preliminary data from the Bureau of Labor Statistics. The government and education and health services sectors led job gains, while professional and business services and financial activities lost 4,700 positions combined.<\/p>\n<p><iframe id=\"datawrapper-chart-Tmblq\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Columbus Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/Tmblq\/1\/\" height=\"583\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Development increased substantially, as construction starts in 2022 doubled, compared with 2021. Through February, developers delivered 136 units and had another 11,369 underway. Meanwhile, investors traded $43 million in multifamily assets, following the all-time high of $1.7 billion registered in 2022.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/3778-MatrixMultifamilyColumbusReport-April2023\" target=\"_blank\" rel=\"noopener\"><strong>Matrix Multifamily Columbus Report-April 2023<\/strong><\/a><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strong Demand Sustains Rent Gains Ohio\u2019s capital continues to appeal to tech firms, with companies including Google, Amazon and Meta preserving their local presence, while Intel is planning a new chip plant in the metro. Columbus\u2019 multifamily fundamentals also performed well, surpassing U.S. averages, with rents increasing slightly\u2014up 0.1% on a trailing three-month basis through [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":5958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[3,475],"class_list":["post-5957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-columbus","tag-multifamily-outlook-2023"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Columbus Multifamily Market Report \u2013 April 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rent growth remained 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