Despite the city adding 3,300
apartments last year, rental demand in Columbus remains high.
According to an article by Columbus Business First, the amount of
vacant apartments in Columbus (which is already below average for the
country) will drop in 2016 to the lowest number since 2000. The
vacancy rate, at 4.9% last year, is expected to drop to 4.5% by the
end of the year. In terms of supply and demand, developers are
projected to complete 1,080 more units, while renters are expected to
occupy 1,650 more units in 2016. The article cites low interest
rates and “favorable apartment fundamentals” as the cause for the
rise in demand. For more information, read the full article here.
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