Columbia, SC Multifamily Market Report | Colliers | Q1 2026

Market Overview

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The Columbia multifamily market entered Q1 2026 with continued momentum driven by population growth and an active development pipeline, particularly concentrated downtown. Total inventory reached 54,343 units following 777 new deliveries this quarter, while net absorption of 204 units pulled back from the prior quarter's 469, softening overall occupancy slightly to 89.5% from 90.3%. Average monthly asking rents rose to $1,332, a 1.3% increase year-over-year. The most active submarket was North Richland County, which recorded 223 units of absorption supported by deliveries near the emerging Scout Motors employment hub in Blythewood, where 648 units remain under construction. Downtown Columbia remains the focal point of development activity, with 1,114 units under construction that will expand downtown inventory by 25.29% upon delivery, the largest urban pipeline the market has seen in over 25 years. Across the metro, 1,897 units are currently under construction, with 392 additional units scheduled for delivery in Q2 2026 and 174 more in Q3 2026. On the investment side, notable Q1 transactions included 100 Granby Crossing (168 units, $31M) and 901 Colleton Street (200 units, $6.8M), with the market continuing to attract regional and national capital.

‍About Colliers

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South Carolina is the largest full-service commercial real estate firm in South Carolina, with 225 real estate professionals and an annual transaction volume of $1.5 billion across offices in Charleston, Columbia, Greenville, and Spartanburg. Their Q1 2026 Columbia multifamily report tracks occupancy, rents, absorption, deliveries, and investment sales activity across 10 submarkets to help owners, developers, and investors assess market conditions and opportunities. To read the full report, click here.