Insights
Kentucky
BACK TO INSIGHTSMarket Overview
BACK TO INSIGHTSEXPLORE 5 Kentucky MARKETSToggle markets
VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 10 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2023 at 4.7% in the Cincinnati metro.
Distribution / Warehousing
The average Vacancy Rate was 7.8% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 20 basis points.
- Vacancy is expected to finish 2023 at 7.7% in the Cincinnati metro.
Flex / R&D
The average Vacancy Rate was 6.7% in the Cincinnati metro
- No vacancy change since Q1 2023 in the Cincinnati metro.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2023 at 6.7% in the Cincinnati metro.
Office
The average Vacancy Rate was 20.3% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 10 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2023 at 20.2% in the Cincinnati metro.
Retail
The average Vacancy Rate was 10.0% in the Cincinnati metro
- The Cincinnati metro had the fifth lowest vacancy in the nation and the fourth lowest in the Midwest.
- Vacancy in the Cincinnati metro drifted downward by 10 basis points.
- The Cincinnati metro had the lowest vacancy level since year-end 2004.
RENT
Apartment
The average Asking Rent was $1,161 in the Cincinnati metro
- Rent in the Cincinnati metro was up 1.0% from Q1 2023.
- Rent is expected to finish 2023 at $1,182 in the Cincinnati metro.
Distribution / Warehousing
The average Asking Rent was $4.66 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.6% from Q1 2023.
- Rent is expected to finish 2023 at $4.83 in the Cincinnati metro.
Flex / R&D
The average Asking Rent was $7.63 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.4% from Q1 2023.
- Rent Has risen for eleven consecutive quarters in the Cincinnati metro.
- Rent is expected to finish 2023 at $7.87 in the Cincinnati metro.
Office
The average Asking Rent was $19.64 in the Cincinnati metro
- Rent in the Cincinnati metro was down 0.7% from Q1 2023.
- Rent is expected to finish 2023 at $19.75 in the Cincinnati metro.
Retail
The average Asking Rent was $16.65 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.1% from Q1 2023.
- Rent is expected to finish 2023 at $16.70 in the Cincinnati metro.
VACANCY
Apartment
The average Vacancy Rate was 2.3% in the Knoxville metro
- The Knoxville metro had the second lowest vacancy in the nation, behind only Central New Jersey.
- No vacancy change since Q1 2023 in the Knoxville metro.
- The Knoxville metro had the lowest vacancy level since Q3 1999.
Distribution / Warehousing
The average Vacancy Rate was 3.1% in the Knoxville metro
- Vacancy in the Knoxville metro rose by 50 basis points.
- Vacancy is expected to finish 2023 at 3.5% in the Knoxville metro.
Office
The average Vacancy Rate was 16.9% in the Knoxville metro
- Vacancy in the Knoxville metro fell by 160 basis points.
- Vacancy is expected to finish 2023 at 17.1% in the Knoxville metro.
Retail
The average Vacancy Rate was 12.3% in the Knoxville metro
- Vacancy in the Knoxville metro drifted downward by 30 basis points.
- The Knoxville metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2023 at 12.1% in the Knoxville metro.
RENT
Apartment
The average Asking Rent was $1,082 in the Knoxville metro
- Rent in the Knoxville metro was up 1.6% from Q1 2023.
- Rent is expected to finish 2023 at $1,099 in the Knoxville metro.
Distribution / Warehousing
The average Asking Rent was $4.91 in the Knoxville metro
- Rent in the Knoxville metro was up 1.2% from Q1 2023.
- Rent Has risen for six consecutive quarters in the Knoxville metro.
- Rent is expected to finish 2023 at $5.02 in the Knoxville metro.
Office
The average Asking Rent was $17.79 in the Knoxville metro
- Rent in the Knoxville metro was up 1.1% from Q1 2023.
- Rent is expected to finish 2023 at $17.86 in the Knoxville metro.
Retail
The average Asking Rent was $15.27 in the Knoxville metro
- The Knoxville metro had the fastest rent growth in the nation.
- Knoxville metro had its fastest rent rate of increase in eight quarters.
- Rent is expected to finish 2023 at $15.41 in the Knoxville metro.
VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Lexington metro
- Vacancy in the Lexington metro drifted downward by 10 basis points.
- The Lexington metro had the lowest vacancy level since Q2 1999.
- Vacancy is expected to finish 2023 at 4.1% in the Lexington metro.
Distribution / Warehousing
The average Vacancy Rate was 0.5% in the Lexington metro
- The Lexington metro had the lowest vacancy in the nation.
- No vacancy change since Q1 2023 in the Lexington metro.
- Vacancy is expected to finish 2023 at 0.5% in the Lexington metro.
Office
The average Vacancy Rate was 17.3% in the Lexington metro
- Vacancy in the Lexington metro drifted downward by 10 basis points.
- The Lexington metro had the lowest vacancy level since Q3 2017.
- Vacancy is expected to finish 2023 at 17.7% in the Lexington metro.
Retail
The average Vacancy Rate was 11.5% in the Lexington metro
- No vacancy change since Q1 2023 in the Lexington metro.
- The Lexington metro had the highest vacancy level since year-end 2003.
- Vacancy is expected to finish 2023 at 11.3% in the Lexington metro.
RENT
Apartment
The average Asking Rent was $1,022 in the Lexington metro
- The Lexington metro had the second fastest rent growth in the nation, behind only Providence.
- Rent is expected to finish 2023 at $1,057 in the Lexington metro.
Distribution / Warehousing
The average Asking Rent was $6.12 in the Lexington metro
- Rent in the Lexington metro was up 2.2% from Q1 2023.
- Rent has risen in every quarter since year-end 2019 in the Lexington metro.
- Rent is expected to finish 2023 at $6.33 in the Lexington metro.
Office
The average Asking Rent was $17.69 in the Lexington metro
- Rent in the Lexington metro was up 0.3% from Q1 2023.
- Rent is expected to finish 2023 at $17.75 in the Lexington metro.
Retail
The average Asking Rent was $14.55 in the Lexington metro
- Rent in the Lexington metro was up 0.1% from Q1 2023.
- Rent is expected to finish 2023 at $14.60 in the Lexington metro.
VACANCY
Apartment
The average Vacancy Rate was 5.9% in the Louisville metro
- Vacancy in the Louisville metro drifted upward by 30 basis points.
- Vacancy is expected to finish 2023 at 6.0% in the Louisville metro.
Distribution / Warehousing
The average Vacancy Rate was 2.3% in the Louisville metro
- Vacancy in the Louisville metro drifted downward by 10 basis points.
- The Louisville metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2023 at 2.6% in the Louisville metro.
Office
The average Vacancy Rate was 19.9% in the Louisville metro
- No vacancy change since Q1 2023 in the Louisville metro.
- The Louisville metro had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2023 at 20.4% in the Louisville metro.
Retail
The average Vacancy Rate was 9.3% in the Louisville metro
- Vacancy in the Louisville metro fell by 90 basis points.
- The Louisville metro had the lowest vacancy level since Q1 2018.
- Vacancy is expected to finish 2023 at 9.5% in the Louisville metro.
RENT
Apartment
The average Asking Rent was $1,034 in the Louisville metro
- Rent in the Louisville metro was up 2.2% from Q1 2023.
- Rent is expected to finish 2023 at $1,057 in the Louisville metro.
Distribution / Warehousing
The average Asking Rent was $5.47 in the Louisville metro
- Rent in the Louisville metro was up 1.5% from Q1 2023.
- Rent Has risen for ten consecutive quarters in the Louisville metro.
- Rent is expected to finish 2023 at $5.68 in the Louisville metro.
Office
The average Asking Rent was $17.99 in the Louisville metro
- Rent in the Louisville metro was up 0.2% from Q1 2023.
- Rent is expected to finish 2023 at $18.08 in the Louisville metro.
Retail
The average Asking Rent was $17.55 in the Louisville metro
- Rent in the Louisville metro was up 0.4% from Q1 2023.
- Rent is expected to finish 2023 at $17.63 in the Louisville metro.
VACANCY
Apartment
The average Vacancy Rate was 7.8% in the Nashville metro
- Vacancy in the Nashville metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2023 at 7.5% in the Nashville metro.
Distribution / Warehousing
The average Vacancy Rate was 2.0% in the Nashville metro
- The Nashville metro had the third lowest vacancy in the nation and the fifth lowest in the South Atlantic.
- Vacancy in the Nashville metro drifted downward by 40 basis points.
- The Nashville metro had the lowest vacancy level since Q3 2009.
Flex / R&D
The average Vacancy Rate was 13.2% in the Nashville metro
- Vacancy in the Nashville metro fell by 210 basis points.
- The Nashville metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.1% in the Nashville metro.
Office
The average Vacancy Rate was 15.3% in the Nashville metro
- The Nashville metro had the seventh lowest vacancy in the nation and the ninth lowest in the South Atlantic.
- Vacancy in the Nashville metro fell by 340 basis points.
- The Nashville metro had the lowest vacancy level since Q1 2020.
Retail
The average Vacancy Rate was 9.3% in the Nashville metro
- Vacancy in the Nashville metro drifted downward by 20 basis points.
- Vacancy is expected to finish 2023 at 9.5% in the Nashville metro.
RENT
Apartment
The average Asking Rent was $1,556 in the Nashville metro
- Rent in the Nashville metro was up 1.5% from Q1 2023.
- Rent is expected to finish 2023 at $1,601 in the Nashville metro.
Distribution / Warehousing
The average Asking Rent was $5.55 in the Nashville metro
- Rent in the Nashville metro was up 2.0% from Q1 2023.
- Rent Has risen for ten consecutive quarters in the Nashville metro.
- Rent is expected to finish 2023 at $5.82 in the Nashville metro.
Flex / R&D
The average Asking Rent was $8.89 in the Nashville metro
- Rent in the Nashville metro was up 1.5% from Q3 2021.
- Nashville metro had its fastest rent rate of increase in ten quarters.
- Rent is expected to finish 2022 at $9.25 in the Nashville metro.
Office
The average Asking Rent was $27.37 in the Nashville metro
- Rent in the Nashville metro was up 0.2% from Q1 2023.
- Rent Has risen for six consecutive quarters in the Nashville metro.
- Rent is expected to finish 2023 at $27.49 in the Nashville metro.
Retail
The average Asking Rent was $17.61 in the Nashville metro
- Rent in the Nashville metro was up 0.3% from Q1 2023.
- Rent is expected to finish 2023 at $17.75 in the Nashville metro.