Insights

Ohio

BACK TO INSIGHTS

Market Overview

BACK TO INSIGHTS

EXPLORE 7 Ohio MARKETSToggle markets

Akron
Cincinnati
Cleveland
Columbus
Dayton
Pittsburgh
Toledo

Akron

Learn more about the Ohio markets from one of our professionals

VACANCY

Distribution / Warehousing

Average Vacancy Rate 15.0%

Increased by 50 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $4.90

Second lowest rent growth in the nation, higher than only Santa Rosa.
Expected to finish 2019 at.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Cincinnati

Learn more about the Ohio markets from one of our professionals

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.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Cleveland

Learn more about the Ohio markets from one of our professionals

VACANCY

Apartment

Average Vacancy Rate 4.0%

Drifted downward by 10 basis points.
Lowest level since Q1 2018.
Expected to finish 2020 at 5.2%.

Distribution / Warehousing

Average Vacancy Rate 9.4%

Drifted downward by 10 basis points.
Expected to finish 2020 at 11.0%.

Flex / R&D

Average Vacancy Rate 17.7%

Second highest in the nation. Only Pittsburgh is currently softer.
Drifted downward by 30 basis points.
Expected to finish 2020 at 19.2%.

Office

Average Vacancy Rate 24.4%

Rose by 230 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2020 at 25.9%.

Retail

Average Vacancy Rate 13.9%

No change since Q1 2020.
Among the 10 highest vacancies nationally.
Expected to finish 2020 at 16.1%.

RENT

Apartment

Average Asking Rent $969

Up 0.4% from Q1 2020.
Has risen in every quarter since Q3 2010.
Expected to finish 2020 at $938.

Distribution / Warehousing

Average Asking Rent $4.43

Up 0.2% from Q1 2020.
Expected to finish 2020 at $4.26.

Flex / R&D

Average Asking Rent $7.80

Up 0.4% from Q1 2020.
Expected to finish 2020 at $7.45.

Office

Average Asking Rent $19.85

Down 0.1% from Q1 2020.
Expected to finish 2020 at $19.43.

Retail

Average Asking Rent $16.12

Down 0.4% from Q1 2020.
Expected to finish 2020 at $14.82.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Columbus

Learn more about the Ohio markets from one of our professionals

VACANCY

Apartment

Average Vacancy Rate 5.1%

No change since Q1 2020.
Highest level since year-end 2014.
Expected to finish 2020 at 6.4%.

Distribution / Warehousing

Average Vacancy Rate 11.0%

Drifted upward by 20 basis points.
Expected to finish 2020 at 12.6%.

Flex / R&D

Average Vacancy Rate 15.7%

Increased by 60 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2020 at 16.5%.

Office

Average Vacancy Rate 19.9%

No change since Q1 2020.
Among the 20 highest vacancies nationally.
Expected to finish 2020 at 22.0%.

Retail

Average Vacancy Rate 10.9%

Drifted upward by 10 basis points.
Expected to finish 2020 at 13.3%.

RENT

Apartment

Average Asking Rent $992

Flat since Q1 2020.
Expected to finish 2020 at $970.

Distribution / Warehousing

Average Asking Rent $3.89

Up 0.3% from Q1 2020.
Expected to finish 2020 at $3.70.

Flex / R&D

Average Asking Rent $6.12

Fastest rent growth in the nation.
Fastest rate of increase since Q3 2014.
Expected to finish 2020 at $5.82.

Office

Average Asking Rent $19.68

Down 0.1% from Q1 2020.
Expected to finish 2020 at $19.14.

Retail

Average Asking Rent $13.91

Down 0.6% from Q1 2020.
Expected to finish 2020 at $13.04.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Dayton

Learn more about the Ohio markets from one of our professionals

VACANCY

Apartment

Average Vacancy Rate 2.7%

Lowest in the Midwest region, third lowest in the nation.
Drifted downward by 20 basis points.
Lowest level since Q2 2000.

Distribution / Warehousing

Average Vacancy Rate 17.6%

Rose by 110 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2019 at 17.4%.

Office

Average Vacancy Rate 30.6%

Highest in the nation.
Rose by 110 basis points.
Highest level since Q3 1999.

Retail

Average Vacancy Rate 15.3%

Drifted upward by 20 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2020 at 18.3%.

RENT

Apartment

Average Asking Rent $811

Up 0.2% from Q1 2020.
Has risen in every quarter since Q1 2014.
Expected to finish 2020 at $799.

Distribution / Warehousing

Average Asking Rent $3.32

Flat since year-end 2018.
Expected to finish 2019 at $3.37.

Office

Average Asking Rent $15.37

Flat since Q1 2020.
Expected to finish 2020 at $15.14.

Retail

Average Asking Rent $11.76

Lowest rent growth in the nation.
Expected to finish 2020 at $11.27.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Pittsburgh

Learn more about the Ohio markets from one of our professionals

VACANCY

Apartment

Average Vacancy Rate 3.6%

Eighth lowest in the nation and the third lowest in the Northeast.
No change since Q1 2020.
Lowest level since year-end 2014.

Distribution / Warehousing

Average Vacancy Rate 8.8%

Drifted downward by 20 basis points.
Expected to finish 2020 at 10.7%.

Flex / R&D

Average Vacancy Rate 18.3%

Highest in the nation.
Increased by 100 basis points.
Expected to finish 2020 at 19.6%.

Office

Average Vacancy Rate 19.3%

Drifted downward by 10 basis points.
Expected to finish 2020 at 21.7%.

Retail

Average Vacancy Rate 11.5%

Has risen for six consecutive quarters.
Highest level since Q2 2007.
Expected to finish 2020 at 13.8%.

RENT

Apartment

Average Asking Rent $1,151

Up 0.2% from Q1 2020.
Has risen for ten consecutive quarters.
Expected to finish 2020 at $1,124.

Distribution / Warehousing

Average Asking Rent $4.76

Down 0.4% from Q1 2020.
Expected to finish 2020 at $4.49.

Flex / R&D

Average Asking Rent $8.59

Fifth fastest rent growth in the nation, and the second in the Northeast region, behind only Long Island.
Has risen in every quarter since Q1 2014.
Expected to finish 2020 at $8.00.

Office

Average Asking Rent $22.89

Up 0.1% from Q1 2020.
Expected to finish 2020 at $22.58.

Retail

Average Asking Rent $18.06

Down 0.6% from Q1 2020.
Expected to finish 2020 at $17.20.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.

Toledo

Learn more about the Ohio markets from one of our professionals

VACANCY

Distribution / Warehousing

Average Vacancy Rate 16.0%

Declined by 70 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $2.98

Up 1.0% from year-end 2018.
Fastest rate of increase in six quarters.
Expected to finish 2019 at.

Learn more about the Ohio markets from one of our professionals

Learn more about the Ohio markets from one of our professionals.