Insights
Kentucky
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BACK TO INSIGHTSEXPLORE 5 Kentucky MARKETSToggle markets
VACANCY
Apartment
Average Vacancy Rate 4.1%
- No change since Q1 2020.
- Expected to finish 2020 at 5.1%.
Distribution / Warehousing
Average Vacancy Rate 14.7%
- Declined by 60 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 15.0%.
Flex / R&D
Average Vacancy Rate 11.1%
- Drifted downward by 10 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2020 at 13.5%.
Office
Average Vacancy Rate 18.2%
- Drifted downward by 20 basis points.
- Expected to finish 2020 at 20.1%.
Retail
Average Vacancy Rate 10.8%
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 13.3%.
RENT
Apartment
Average Asking Rent $958
- Up 0.3% from Q1 2020.
- Has risen in every quarter since Q1 2010.
- Expected to finish 2020 at $941.
Distribution / Warehousing
Average Asking Rent $3.80
- Up 0.5% from Q1 2020.
- Expected to finish 2020 at $3.62.
Flex / R&D
Average Asking Rent $6.65
- Up 0.3% from Q1 2020.
- Expected to finish 2020 at $6.19.
Office
Average Asking Rent $20.05
- Down 0.3% from Q1 2020.
- Expected to finish 2020 at $19.66.
Retail
Average Asking Rent $16.49
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $15.54.
VACANCY
Apartment
Average Vacancy Rate 3.8%
- No change since Q1 2020.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 5.9%.
Distribution / Warehousing
Average Vacancy Rate 6.4%
- Declined by 70 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2019 at 6.4%.
Office
Average Vacancy Rate 16.8%
- Increased by 80 basis points.
- Highest level since year-end 2014.
- Expected to finish 2020 at 20.0%.
Retail
Average Vacancy Rate 10.3%
- Drifted downward by 10 basis points.
- Expected to finish 2020 at 12.7%.
RENT
Apartment
Average Asking Rent $840
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $820.
Distribution / Warehousing
Average Asking Rent $4.37
- Up 0.2% from year-end 2018.
- Expected to finish 2019 at $4.49.
Office
Average Asking Rent $16.97
- Up 0.2% from Q1 2020.
- Expected to finish 2020 at $16.68.
Retail
Average Asking Rent $15.24
- Second fastest rent growth in the nation, behind only Omaha.
- Expected to finish 2020 at $14.30.
VACANCY
Apartment
Average Vacancy Rate 5.2%
- Drifted downward by 20 basis points.
- Expected to finish 2020 at 6.4%.
Distribution / Warehousing
Average Vacancy Rate 5.1%
- Sixth lowest in the nation and the third lowest in the South Atlantic.
- Drifted upward by 40 basis points.
- Expected to finish 2019 at 4.9%.
Office
Average Vacancy Rate 18.2%
- Drifted upward by 30 basis points.
- Expected to finish 2020 at 20.1%.
Retail
Average Vacancy Rate 10.5%
- Drifted downward by 20 basis points.
- Expected to finish 2020 at 12.3%.
RENT
Apartment
Average Asking Rent $853
- Fastest rent growth in the nation.
- Fastest rate of increase in four quarters.
- Has risen for seven consecutive quarters.
Distribution / Warehousing
Average Asking Rent $5.00
- Down 0.2% from year-end 2018.
- Expected to finish 2019 at $5.04.
Office
Average Asking Rent $17.47
- Down 0.6% from Q1 2020.
- Expected to finish 2020 at $17.10.
Retail
Average Asking Rent $14.80
- Down 0.4% from Q1 2020.
- Expected to finish 2020 at $14.29.
VACANCY
Apartment
Average Vacancy Rate 6.1%
- Rose by 50 basis points.
- Among the 10 highest vacancies nationally.
- Expected to finish 2020 at 7.8%.
Distribution / Warehousing
Average Vacancy Rate 14.3%
- Drifted upward by 30 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2019 at 14.4%.
Office
Average Vacancy Rate 19.7%
- Drifted downward by 30 basis points.
- Expected to finish 2020 at 21.6%.
Retail
Average Vacancy Rate 9.9%
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 11.9%.
RENT
Apartment
Average Asking Rent $872
- Down 1.1% from Q1 2020.
- Expected to finish 2020 at $862.
Distribution / Warehousing
Average Asking Rent $4.27
- Up 0.2% from year-end 2018.
- Has risen for six consecutive quarters.
- Expected to finish 2019 at $4.36.
Office
Average Asking Rent $17.83
- Up 0.4% from Q1 2020.
- Expected to finish 2020 at $17.48.
Retail
Average Asking Rent $17.34
- Down 0.4% from Q1 2020.
- Expected to finish 2020 at $17.06.
VACANCY
Apartment
Average Vacancy Rate 5.5%
- Drifted upward by 10 basis points.
- Expected to finish 2020 at 7.9%.
Distribution / Warehousing
Average Vacancy Rate 9.8%
- Declined by 150 basis points.
- Lowest level since Q1 2018.
- Expected to finish 2020 at 12.6%.
Flex / R&D
Average Vacancy Rate 6.8%
- Seventh lowest in the nation, and the second in the South Atlantic region, behind only Miami.
- Increased by 90 basis points.
- Highest level since year-end 2014.
Office
Average Vacancy Rate 15.4%
- Increased by 60 basis points.
- Among the 20 lowest vacancies nationally.
- Expected to finish 2020 at 17.1%.
Retail
Average Vacancy Rate 9.1%
- No change since Q1 2020.
- Expected to finish 2020 at 11.2%.
RENT
Apartment
Average Asking Rent $1,240
- Up 0.2% from Q1 2020.
- Has risen in every quarter since year-end 2009.
- Expected to finish 2020 at $1,199.
Distribution / Warehousing
Average Asking Rent $4.25
- Flat since Q1 2020.
- Expected to finish 2020 at $4.11.
Flex / R&D
Average Asking Rent $8.56
- Flat since Q1 2020.
- Expected to finish 2020 at $8.14.
Office
Average Asking Rent $25.10
- Down 0.1% from Q1 2020.
- Expected to finish 2020 at $24.79.
Retail
Average Asking Rent $17.47
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $16.85.