Columbus Sees the Most Demand in the Midwest in 3rd Quarter

Columbus saw the most apartment demand in the Midwest in 3rd quarter. The market absorbed 2,088 units in the July to September time frame, according to data from RealPage Market Analytics. While that quarterly tally was well below the showings by demand leaders like Phoenix and Atlanta, it was the strongest in the Midwest region. The next Midwest market on the performance list was Kansas City, where only 654 units were absorbed in 3rd quarter. This was the second quarter of solid demand for Columbus, where nearly 4,400 units were absorbed in 2nd quarter. Those recent performances pushed the annual demand total to 9,610 units, the highest since RealPage began tracking Columbus in 1999, and well ahead of the record-high concurrent completion volume of about 7,900 units. Both apartment demand and deliveries in the year-ending 3rd quarter were concentrated in the Westerville/New Albany/Delaware and Downtown Columbus/University District submarkets. With the continued influx of demand, Columbus has been one of a few markets nationwide to sustain rent growth over the past five years.