Columbus, OH Multifamily Market Report | Colliers | Q1 2026

Market Overview

‍
Columbus's multifamily market continued absorbing two consecutive record delivery years in Q1 2026, with overall vacancy holding at 4.50% and average market rent reaching $1,430 per unit. Year-over-year rent growth remained positive at 0.37%, supported by strong population fundamentals: the Columbus MSA added over 21,000 residents in 2025, doubling the national growth rate, with international migration accounting for 51% of total in-migration. The market delivered 9,668 units in 2025 and is projected to deliver another 9,160 in 2026, but construction starts are expected to decline 55% to approximately 4,355 units, with only 2.03% of total market-rate inventory actively under construction. Workforce housing continued to outperform newer Class A product, and over 68% of properties delivered since 2023 were actively offering concessions as lease-up competition remained elevated heading into the spring season.

‍About Colliers

‍
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 Columbus multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity to help owners, developers, and investors assess market conditions and timing. To read the full report, click here.