Demand for mid-priced units in Lexington, Kentucky, drives down apartment vacancy
A softening construction pipeline will support tight market conditions over the near term
Apartment demand in Lexington, Kentucky, totaled roughly 230 units in the third quarter of 2024, making it the strongest third quarter since 2020.
Third-quarter sales volume back in line with pre-pandemic levels in Cleveland
Office and multifamily represent increasing shares of quarterly deal flow
Investment volume across property sectors in Cleveland passed $430 million in the third quarter of 2024, a 12% increase from the third quarter of 2023 and back in line with pre-pan...
Multifamily sales boost transaction volume in Lexington, Kentucky
Tightening market conditions and strong rent growth drive investment
Investment volume across property sectors in Lexington, Kentucky, totaled $102 million in the third quarter of 2024, which is in line with the average third-quarter volume in the y...
Two of Columbus’ largest employment sectors keep annual job growth positive
Office-using sectors struggle amid slower hiring in Ohio's capital
While total employment growth has been muted in Columbus, Ohio, over the past 12 months, some of the market’s largest job sectors saw substantial gains.
Cincinnati among top US markets for apartment rent growth
Suburban areas where development has historically been limited support healthy gains
Cincinnati has ranked among the top U.S. markets for rent growth this year and remains among the top 10 markets as of the end of the third quarter.
Upstate New York well represented among top secondary markets for rent growth
Strong demand and fewer completions drive rents higher
The 50 largest multifamily markets in the U.S., which represent CoStar’s national index, ended the third quarter of 2024 with an average 12-month rent growth of 1.1%. Many of the n...
Cleveland enters final quarter of 2024 among top markets for apartment rent growth
Limited completions will keep rent gains elevated over the near term
Cleveland has ranked among major US markets with the strongest rent growth since the start of 2024 and has remained among the top 10 markets at the end of the third quarter.
Columbus industrial availability rate dips for first time in a year
Shrinking sublet availability drives tightening market conditions in Ohio's capital
While industrial availability nationwide continues to rise, the availability rate in Columbus, Ohio, fell 30 basis points over the past quarter to 9% — the first time the market's ...
Cincinnati's healthy apartment pipeline bucks national trend
Development is concentrated in city's fastest-growing suburbs
Around 4,600 apartments are under construction in Cincinnati, doubling the average level of construction in the five years preceding the pandemic and bucking a national trend that ...
Total employment in Pittsburgh hovers above pre-pandemic levels
Job gains in city's largest employment sectors remain muted
While total employment in the Pittsburgh metropolitan area hovers slightly above February 2020 levels, some sectors have yet to recover.
Office-using employment struggles to recover in Rochester, New York
Weak job growth places upward pressure on the vacancy rate
Office-using employment in Rochester, New York, has lagged among peer markets in the state for most of the latter stages of the pandemic recovery. As of August, office-using employ...
Steady demand supports tight industrial availability in Louisville, Kentucky
A modest construction pipeline will keep availability stable over the near term
As of mid-September, industrial availability in Louisville, Kentucky, hovers around 6%, which is about 50 basis points below the average in the five years preceding the pandemic. L...
Fewer High-End Completions Drive Apartment Vacancy Down in Pittsburgh
A Modest Construction Pipeline Will Further Support Tightening Market Conditions
A pullback in completions and a boost in demand contributed to tightening vacancy in Pittsburgh’s multifamily market in the first half of 2024. The four-and-five-star sector led th...
Multifamily Sales Drive Investment Volume Higher in Pittsburgh
Second-Quarter Volume at Highest Level in More Than a Year
Investment volume across property sectors in Pittsburgh passed $420 million in the second quarter of 2024, making it the strongest quarter for sales volume since late 2022.
Less Than a Third of Office Leases Signed in Louisville Before the Pandemic Have Yet to Expire
Louisville’s Office Market Faces Lower Risk Related to Lease Rollovers
As office leases signed before the pandemic approach expiration, tenants are adjusting their office footprints to current workforce sizes, often resulting in smaller leases.
Nearly Half of Pittsburgh Office Leases Signed Before the Pandemic Have Yet to Expire
Tenants Shed Space as Expiring Leases Will Continue to Weigh on Volume
As office leases signed before the pandemic approach expiration, tenants are adjusting their office footprints to current workforce sizes, often resulting in smaller leases.
New Office Leasing Beats Pre-Pandemic Numbers in Two Columbus Suburbs
Discounted Rent, Strategic Location Are a Draw for Tenants
Though office leasing in Columbus, Ohio, remains below pre-pandemic levels, two of the market's fast-growing suburbs are bucking the trend.
Nearly Half of Office Leases Signed in Cleveland Before the Pandemic Have Yet To Expire
Tenants Shed Space as Expiring Leases Will Continue to Weigh on Volume
As office leases signed before the pandemic approach expiration, tenants are adjusting their office footprints to current workforce sizes, often resulting in smaller leases.
Columbus Among Top US Markets for Apartment Rent Growth
Suburban Areas Support Overall Rent Increase
Columbus, Ohio, ended the second quarter with one of the strongest 12-month rent growth figures of any major apartment market in the United States.
Louisville Surprises as Top US Market for Apartment Rent Growth
Limited New Supply, Robust Demand Supports Strong Rent Gains
While Louisville, Kentucky, is known for being the birthplace of Muhammad Ali, the location of the Kentucky Derby and the home of the Louisville Slugger, more recently it has laid ...