Insights
Kentucky
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VACANCY
Apartment
The average Vacancy Rate was 4.3% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 10 basis points.
- The Cincinnati metro had the lowest vacancy level since Q1 2020.
- Vacancy is expected to finish 2022 at 4.4% in the Cincinnati metro.
Distribution / Warehousing
The average Vacancy Rate was 10.6% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 30 basis points.
- The Cincinnati metro had the lowest vacancy level since year-end 2018.
- Vacancy is expected to finish 2022 at 9.9% in the Cincinnati metro.
Flex / R&D
The average Vacancy Rate was 8.0% in the Cincinnati metro
- Vacancy in the Cincinnati metro fell by 290 basis points.
- The Cincinnati metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 7.3% in the Cincinnati metro.
Office
The average Vacancy Rate was 20.7% in the Cincinnati metro
- Vacancy in the Cincinnati metro increased by 130 basis points.
- The Cincinnati metro had the highest vacancy level since Q3 1995.
- Vacancy is expected to finish 2022 at 19.3% in the Cincinnati metro.
Retail
The average Vacancy Rate was 10.4% in the Cincinnati metro
- The Cincinnati metro had the lowest vacancy in the Midwest region, third lowest in the nation.
- Vacancy in the Cincinnati metro drifted upward by 20 basis points.
- Vacancy is expected to finish 2022 at 10.5% in the Cincinnati metro.
RENT
Apartment
The average Asking Rent was $1,117 in the Cincinnati metro
- The Cincinnati metro had the fastest rent growth in the Midwest region, third most rapid in the nation.
- Rent has risen in every quarter since Q1 2010 in the Cincinnati metro.
- Rent is expected to finish 2022 at $1,153 in the Cincinnati metro.
Distribution / Warehousing
The average Asking Rent was $4.09 in the Cincinnati metro
- Rent in the Cincinnati metro was up 1.0% from year-end 2021.
- Rent is expected to finish 2022 at $4.25 in the Cincinnati metro.
Flex / R&D
The average Asking Rent was $6.87 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.9% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Cincinnati metro.
- Rent is expected to finish 2022 at $7.05 in the Cincinnati metro.
Office
The average Asking Rent was $19.72 in the Cincinnati metro
- Rent in the Cincinnati metro was down 0.5% from year-end 2021.
- Rent has been in decline for six consecutive quarters in the Cincinnati metro.
- Rent is expected to finish 2022 at $19.82 in the Cincinnati metro.
Retail
The average Asking Rent was $16.56 in the Cincinnati metro
- Rent in the Cincinnati metro was down 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $16.65 in the Cincinnati metro.
VACANCY
Apartment
The average Vacancy Rate was 3.0% in the Knoxville metro
- The Knoxville metro had the second lowest vacancy in the nation, behind only Central New Jersey.
- Vacancy in the Knoxville metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 3.3% in the Knoxville metro.
Distribution / Warehousing
The average Vacancy Rate was 4.5% in the Knoxville metro
- Vacancy in the Knoxville metro drifted upward by 30 basis points.
- Vacancy is expected to finish 2022 at 4.6% in the Knoxville metro.
Office
The average Vacancy Rate was 18.0% in the Knoxville metro
- Vacancy in the Knoxville metro fell by 50 basis points.
- Vacancy is expected to finish 2022 at 17.4% in the Knoxville metro.
Retail
The average Vacancy Rate was 12.0% in the Knoxville metro
- Vacancy in the Knoxville metro drifted downward by 10 basis points.
- The Knoxville metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2022 at 12.2% in the Knoxville metro.
RENT
Apartment
The average Asking Rent was $940 in the Knoxville metro
- Rent in the Knoxville metro was up 4.6% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q3 1999.
- Rent Has risen for seven consecutive quarters in the Knoxville metro.
Distribution / Warehousing
The average Asking Rent was $4.45 in the Knoxville metro
- Rent in the Knoxville metro was up 1.4% from year-end 2021.
- Knoxville metro had its fastest rent rate of increase since Q1 2017.
- Rent is expected to finish 2022 at $4.54 in the Knoxville metro.
Office
The average Asking Rent was $17.42 in the Knoxville metro
- Rent in the Knoxville metro was up 0.5% from year-end 2021.
- Rent is expected to finish 2022 at $17.30 in the Knoxville metro.
Retail
The average Asking Rent was $15.28 in the Knoxville metro
- Rent in the Knoxville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $15.33 in the Knoxville metro.
VACANCY
Apartment
The average Vacancy Rate was 5.2% in the Lexington metro
- Vacancy in the Lexington metro drifted upward by 30 basis points.
- The Lexington metro had the highest vacancy level since year-end 2019.
- Vacancy is expected to finish 2022 at 4.7% in the Lexington metro.
Distribution / Warehousing
The average Vacancy Rate was 0.9% in the Lexington metro
- The Lexington metro had the lowest vacancy in the nation.
- Vacancy in the Lexington metro declined by 80 basis points.
- The Lexington metro had the lowest vacancy level since Q1 2017.
Office
The average Vacancy Rate was 17.9% 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 2018.
- Vacancy is expected to finish 2022 at 17.8% in the Lexington metro.
Retail
The average Vacancy Rate was 11.5% in the Lexington metro
- No vacancy change since year-end 2021 in the Lexington metro.
- The Lexington metro had the highest vacancy level since year-end 2003.
- Vacancy is expected to finish 2022 at 11.1% in the Lexington metro.
RENT
Apartment
The average Asking Rent was $901 in the Lexington metro
- Rent in the Lexington metro was up 0.8% from year-end 2021.
- Rent is expected to finish 2022 at $915 in the Lexington metro.
Distribution / Warehousing
The average Asking Rent was $5.47 in the Lexington metro
- Rent in the Lexington metro was up 1.7% from year-end 2021.
- Rent Has risen for nine consecutive quarters in the Lexington metro.
- Rent is expected to finish 2022 at $5.61 in the Lexington metro.
Office
The average Asking Rent was $17.66 in the Lexington metro
- Rent in the Lexington metro was down 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $17.67 in the Lexington metro.
Retail
The average Asking Rent was $14.52 in the Lexington metro
- Rent in the Lexington metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $14.57 in the Lexington metro.
VACANCY
Apartment
The average Vacancy Rate was 5.3% in the Louisville metro
- Vacancy in the Louisville metro drifted downward by 20 basis points.
- The Louisville metro had the lowest vacancy level since Q1 2018.
- Vacancy is expected to finish 2022 at 5.3% in the Louisville metro.
Distribution / Warehousing
The average Vacancy Rate was 4.5% in the Louisville metro
- Vacancy in the Louisville metro fell by 50 basis points.
- The Louisville metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 4.6% in the Louisville metro.
Office
The average Vacancy Rate was 19.8% in the Louisville metro
- Vacancy in the Louisville metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 19.9% in the Louisville metro.
Retail
The average Vacancy Rate was 9.9% in the Louisville metro
- Vacancy in the Louisville metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2022 at 9.9% in the Louisville metro.
RENT
Apartment
The average Asking Rent was $979 in the Louisville metro
- Rent in the Louisville metro was up 3.8% from year-end 2021.
- Rent is expected to finish 2022 at $1,004 in the Louisville metro.
Distribution / Warehousing
The average Asking Rent was $4.62 in the Louisville metro
- Rent in the Louisville metro was up 1.1% from year-end 2021.
- Rent is expected to finish 2022 at $4.75 in the Louisville metro.
Office
The average Asking Rent was $17.96 in the Louisville metro
- The Louisville metro remained flat rent since year-end 2021.
- Rent is expected to finish 2022 at $17.96 in the Louisville metro.
Retail
The average Asking Rent was $17.46 in the Louisville metro
- Rent in the Louisville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $17.57 in the Louisville metro.
VACANCY
Apartment
The average Vacancy Rate was 5.1% in the Nashville metro
- Vacancy in the Nashville metro drifted downward by 20 basis points.
- The Nashville metro had the lowest vacancy level since Q3 2016.
- Vacancy is expected to finish 2022 at 5.4% in the Nashville metro.
Distribution / Warehousing
The average Vacancy Rate was 5.3% in the Nashville metro
- Vacancy in the Nashville metro declined by 120 basis points.
- The Nashville metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 5.1% in the Nashville metro.
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 18.9% in the Nashville metro
- Vacancy in the Nashville metro increased by 100 basis points.
- Vacancy is expected to finish 2022 at 18.6% in the Nashville metro.
Retail
The average Vacancy Rate was 9.3% in the Nashville metro
- No vacancy change since year-end 2021 in the Nashville metro.
- Vacancy is expected to finish 2022 at 9.2% in the Nashville metro.
RENT
Apartment
The average Asking Rent was $1,423 in the Nashville metro
- Rent in the Nashville metro was up 1.2% from year-end 2021.
- Rent is expected to finish 2022 at $1,480 in the Nashville metro.
Distribution / Warehousing
The average Asking Rent was $4.63 in the Nashville metro
- Rent in the Nashville metro was up 1.5% from year-end 2021.
- Rent is expected to finish 2022 at $4.79 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 $26.73 in the Nashville metro
- Rent in the Nashville metro was up 1.1% from year-end 2021.
- Nashville metro had its fastest rent rate of increase in five quarters.
- Rent is expected to finish 2022 at $26.77 in the Nashville metro.
Retail
The average Asking Rent was $17.48 in the Nashville metro
- Rent in the Nashville metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $17.61 in the Nashville metro.