{"id":7357,"date":"2023-10-11T07:37:00","date_gmt":"2023-10-11T07:37:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7357"},"modified":"2024-05-16T07:59:11","modified_gmt":"2024-05-16T07:59:11","slug":"september-2023-columbus-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/september-2023-columbus-multifamily-market-report\/","title":{"rendered":"Columbus Multifamily Market Report \u2013 September 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>Prospects Remain Solid For Stable Local Market<\/h2>\n<p>The Columbus multifamily market has a series of advantages, including affordability, stability and strong economic prospects. The metro recorded 0.2% growth on a trailing three-month basis as of July, 10 basis points lower than national trends. However, while national rent movement turned negative for a short spell last winter, Columbus remained on a positive trajectory. On a year-over-year basis, <a href=\"https:\/\/www.yardimatrix.com\/blog\/columbus-multifamily-market-report-september-2022\/\"><strong>the metro saw improvement at 3.0%<\/strong><\/a>, nearly doubling the U.S.\u2019 performance.<\/p>\n<p><iframe id=\"datawrapper-chart-0g0VS\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Columbus vs. National Rent Growth (Trailing 3 Months)\" src=\"https:\/\/datawrapper.dwcdn.net\/0g0VS\/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>Employment growth continued to moderate in Columbus, as different sectors saw varying performance through the 12 months ending in May. Although only 16,100 jobs were added, for a year-over-year rate of growth of 1.1%, the metro\u2019s unemployment rate was 3.3% in June, outperforming both the state and other major Ohio metros. The construction sector added 6,100 positions, driving improvement, as the multifamily pipeline stayed solid. Meanwhile, the area\u2019s blockbuster economic project is Intel\u2019s major reshoring project in the New Albany area. Local authorities have put together a $2 billion incentive project, including a $600 million grant, meant to boost the semiconductor plant project.<\/p>\n<p><iframe id=\"datawrapper-chart-vPUdR\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Columbus Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/vPUdR\/1\/\" height=\"417\" 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>As with national trends, investment activity in the metro slowed, at $336 million in 2023 through July, a third of what it was at the same time last year. Meanwhile development stayed strong, with 12,116 units under construction.<\/p>\n<p>Read the full\u00a0 <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/4496-MatrixMultifamilyColumbusReport-September2023\"><strong>Matrix Multifamily Columbus Report-September 2023<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Prospects Remain Solid For Stable Local Market The Columbus multifamily market has a series of advantages, including affordability, stability and strong economic prospects. The metro recorded 0.2% growth on a trailing three-month basis as of July, 10 basis points lower than national trends. However, while national rent movement turned negative for a short spell last [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":6524,"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-7357","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 September 2023 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rent growth in the metro was 0.2 percent on a T3 basis in July, 10 basis points below the national rate, Yardi Matrix 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