Northeast Ohio Multifamily Market Report | Colliers | Q1 2026

Market Overview

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Cleveland's multifamily market posted solid fundamentals in Q1 2026, with occupancy holding at 95.8% as annual demand of 1,976 units absorbed most of the 1,601 units delivered over the past year. Average asking rents rose to $1,419 per month, up from $1,323 a year prior, and the development pipeline contracted sharply to 1,203 units under construction from 3,672 in Q1 2025, reducing future supply pressure. Across the broader Northeast Ohio region, occupancy averaged 95.8% with Akron leading all markets at 96.4%, while Columbus absorbed 7,156 units against 7,597 delivered, keeping the state's largest market in relative balance.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 60 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Northeast Ohio multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity across the Cleveland, Cincinnati, Columbus, Dayton, and Akron markets to help owners, developers, and investors assess conditions and timing. To read the full report, click here.