Apartments are in high demand, as many renters are unable to get home loans. The national vacancy rate of 4.3% is the lowest it's been in over 10 years. In downtown Columbus, the vacancy rate is a minimal 2.4 percent. Nationwide, over 140,000 new apartments are being built this year, 13,000 of which are underway in Central Ohio, but this still doesn't meet demand. What does this mean for renters? Central Ohio rates will increase by 3.6% this year.
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