Insights
Kentucky
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VACANCY
Apartment
The average Vacancy Rate was 4.4% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 40 basis points.
- The Cincinnati metro had the highest vacancy level since Q2 2021.
Distribution / Warehousing
The average Vacancy Rate was 9.1% in the Cincinnati metro
Flex / R&D
The average Vacancy Rate was 7.6% in the Cincinnati metro
Office
The average Vacancy Rate was 20.8% in the Cincinnati metro
Retail
The average Vacancy Rate was 10.8% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 30 basis points.
- The Cincinnati metro had the highest vacancy level since year-end 2019.
RENT
Apartment
The average Asking Rent was $1,165 in the Cincinnati metro
Distribution / Warehousing
The average Asking Rent was $4.71 in the Cincinnati metro
Flex / R&D
The average Asking Rent was $7.73 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.5% from Q3 2023.
- Rent has risen in every quarter since Q3 2020 in the Cincinnati metro.
Office
The average Asking Rent was $19.75 in the Cincinnati metro
Retail
The average Asking Rent was $16.67 in the Cincinnati metro
VACANCY
Apartment
The average Vacancy Rate was 2.8% in the Knoxville metro
Distribution / Warehousing
The average Vacancy Rate was 3.4% in the Knoxville metro
Office
The average Vacancy Rate was 15.0% in the Knoxville metro
- Vacancy in the Knoxville metro fell by 150 basis points.
- The Knoxville metro had the lowest vacancy level since Q1 2018.
Retail
The average Vacancy Rate was 13.2% in the Knoxville metro
- Vacancy in the Knoxville metro rose by 70 basis points.
- The Knoxville metro had the highest vacancy level since Q3 1999.
RENT
Apartment
The average Asking Rent was $1,074 in the Knoxville metro
Distribution / Warehousing
The average Asking Rent was $4.91 in the Knoxville metro
Office
The average Asking Rent was $18.06 in the Knoxville metro
- Rent in the Knoxville metro was up 1.3% from Q3 2023.
- Knoxville metro had its fastest rent rate of increase since year-end 2007.
Retail
The average Asking Rent was $15.50 in the Knoxville metro
- Rent in the Knoxville metro was up 1.5% from Q3 2023.
- Knoxville metro had its fastest rent rate of increase since Q3 1999.
VACANCY
Apartment
The average Vacancy Rate was 4.9% in the Lexington metro
Distribution / Warehousing
The average Vacancy Rate was 0.5% in the Lexington metro
Office
The average Vacancy Rate was 16.6% in the Lexington metro
- Vacancy in the Lexington metro declined by 70 basis points.
- The Lexington metro had the lowest vacancy level since year-end 2013.
Retail
The average Vacancy Rate was 11.8% 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 2003.
RENT
Apartment
The average Asking Rent was $1,038 in the Lexington metro
Distribution / Warehousing
The average Asking Rent was $6.27 in the Lexington metro
- Rent in the Lexington metro was up 1.1% from Q3 2023.
- Rent has risen in every quarter since year-end 2019 in the Lexington metro.
Office
The average Asking Rent was $17.74 in the Lexington metro
- Rent in the Lexington metro was up 0.3% from Q3 2023.
- Lexington metro had its fastest rent rate of increase three years.
Retail
The average Asking Rent was $14.59 in the Lexington metro
VACANCY
Apartment
The average Vacancy Rate was 6.0% in the Louisville metro
- Vacancy in the Louisville metro drifted upward by 20 basis points.
- The Louisville metro had the highest vacancy level since year-end 2021.
Distribution / Warehousing
The average Vacancy Rate was 5.3% in the Louisville metro
- Vacancy in the Louisville metro rose by 110 basis points.
- The Louisville metro had the highest vacancy level since year-end 2021.
Office
The average Vacancy Rate was 21.1% in the Louisville metro
- Vacancy in the Louisville metro increased by 120 basis points.
- The Louisville metro had the highest vacancy level since Q3 1999.
Retail
The average Vacancy Rate was 10.1% in the Louisville metro
RENT
Apartment
The average Asking Rent was $1,007 in the Louisville metro
Distribution / Warehousing
The average Asking Rent was $5.56 in the Louisville metro
- Rent in the Louisville metro was up 0.7% from Q3 2023.
- Rent has risen in every quarter for the past three years in the Louisville metro.
Office
The average Asking Rent was $17.97 in the Louisville metro
Retail
The average Asking Rent was $17.59 in the Louisville metro
VACANCY
Apartment
The average Vacancy Rate was 8.4% in the Nashville metro
Distribution / Warehousing
The average Vacancy Rate was 2.1% in the Nashville metro
- Vacancy in the Nashville metro drifted downward by 10 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 17.7% in the Nashville metro
Retail
The average Vacancy Rate was 10.1% in the Nashville metro
- Vacancy in the Nashville metro drifted upward by 10 basis points.
- The Nashville metro had the highest vacancy level since Q3 1998.
RENT
Apartment
The average Asking Rent was $1,566 in the Nashville metro
Distribution / Warehousing
The average Asking Rent was $5.73 in the Nashville metro
- Rent in the Nashville metro was up 1.2% from Q3 2023.
- Rent has risen in every quarter for the past three years 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.