Insights
Ohio
BACK TO INSIGHTSMarket Overview
BACK TO INSIGHTSEXPLORE 7 Ohio MARKETSToggle markets
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.
VACANCY
Apartment
The average Vacancy Rate was 4.7% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2025 at 4.7% in the Cincinnati metro.
Distribution / Warehousing
The average Vacancy Rate was 9.3% in the Cincinnati metro
- No vacancy change since Q3 2024 in the Cincinnati metro.
- The Cincinnati metro had the lowest vacancy level since year-end 2022.
- Vacancy is expected to finish 2025 at 8.7% in the Cincinnati metro.
Flex / R&D
The average Vacancy Rate was 6.0% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 10 basis points.
- The Cincinnati metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2025 at 5.6% in the Cincinnati metro.
Office
The average Vacancy Rate was 21.2% in the Cincinnati metro
- Vacancy in the Cincinnati metro increased by 50 basis points.
- The Cincinnati metro had the highest vacancy level since Q3 1995.
- Vacancy is expected to finish 2025 at 20.4% in the Cincinnati metro.
Retail
The average Vacancy Rate was 10.7% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 20 basis points.
- Vacancy is expected to finish 2025 at 10.9% in the Cincinnati metro.
RENT
Apartment
The average Asking Rent was $1,171 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $1,203 in the Cincinnati metro.
Distribution / Warehousing
The average Asking Rent was $4.84 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.2% from Q3 2024.
- Rent has risen in every quarter since Q2 2021 in the Cincinnati metro.
- Rent is expected to finish 2025 at $4.99 in the Cincinnati metro.
Flex / R&D
The average Asking Rent was $7.87 in the Cincinnati metro
- The Cincinnati metro remained flat rent since Q3 2024.
- Rent is expected to finish 2025 at $8.02 in the Cincinnati metro.
Office
The average Asking Rent was $20.07 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.5% from Q3 2024.
- Rent is expected to finish 2025 at $20.37 in the Cincinnati metro.
Retail
The average Asking Rent was $16.90 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.2% from Q3 2024.
- Rent is expected to finish 2025 at $17.19 in the Cincinnati metro.
VACANCY
Apartment
The average Vacancy Rate was 3.7% in the Cleveland metro
- Vacancy in the Cleveland metro drifted upward by 10 basis points.
- The Cleveland metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 4.2% in the Cleveland metro.
Distribution / Warehousing
The average Vacancy Rate was 5.2% in the Cleveland metro
- Vacancy in the Cleveland metro drifted upward by 20 basis points.
- Vacancy is expected to finish 2025 at 5.0% in the Cleveland metro.
Flex / R&D
The average Vacancy Rate was 13.7% in the Cleveland metro
- The Cleveland metro had the second highest vacancy in the nation. Only Richmond is currently softer.
- Vacancy in the Cleveland metro drifted upward by 40 basis points.
- Vacancy is expected to finish 2025 at 13.1% in the Cleveland metro.
Office
The average Vacancy Rate was 21.1% in the Cleveland metro
- Vacancy in the Cleveland metro fell by 70 basis points.
- Vacancy is expected to finish 2025 at 22.8% in the Cleveland metro.
Retail
The average Vacancy Rate was 12.7% in the Cleveland metro
- Vacancy in the Cleveland metro drifted downward by 10 basis points.
- The Cleveland metro had the lowest vacancy level since year-end 2008.
- Vacancy is expected to finish 2025 at 12.9% in the Cleveland metro.
RENT
Apartment
The average Asking Rent was $1,227 in the Cleveland metro
- Rent in the Cleveland metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $1,258 in the Cleveland metro.
Distribution / Warehousing
The average Asking Rent was $5.27 in the Cleveland metro
- The Cleveland metro had the fastest rent growth in the Midwest region, fourth most rapid in the nation.
- Cleveland metro had its fastest rent rate of increase in six quarters.
- Rent has risen in every quarter since year-end 2020 in the Cleveland metro.
Flex / R&D
The average Asking Rent was $9.10 in the Cleveland metro
- The Cleveland metro had the fastest rent growth in the nation.
- Cleveland metro had its fastest rent rate of increase since Q3 2009.
- Rent has risen in every quarter since Q1 2020 in the Cleveland metro.
Office
The average Asking Rent was $20.52 in the Cleveland metro
- The Cleveland metro had the eighth fastest rent growth in the nation, and the second in the Midwest region, behind only Chicago.
- Rent is expected to finish 2025 at $20.90 in the Cleveland metro.
Retail
The average Asking Rent was $16.40 in the Cleveland metro
- Rent in the Cleveland metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $16.62 in the Cleveland metro.
VACANCY
Apartment
The average Vacancy Rate was 5.7% in the Columbus metro
- Vacancy in the Columbus metro drifted upward by 20 basis points.
- The Columbus metro had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2025 at 5.6% in the Columbus metro.
Distribution / Warehousing
The average Vacancy Rate was 8.7% in the Columbus metro
- Vacancy in the Columbus metro declined by 50 basis points.
- Vacancy is expected to finish 2025 at 8.3% in the Columbus metro.
Flex / R&D
The average Vacancy Rate was 9.2% in the Columbus metro
- Vacancy in the Columbus metro drifted downward by 40 basis points.
- The Columbus metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2025 at 8.6% in the Columbus metro.
Office
The average Vacancy Rate was 21.3% in the Columbus metro
- Vacancy in the Columbus metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2025 at 21.0% in the Columbus metro.
Retail
The average Vacancy Rate was 10.2% in the Columbus metro
- No vacancy change since Q3 2024 in the Columbus metro.
- Vacancy is expected to finish 2025 at 10.7% in the Columbus metro.
RENT
Apartment
The average Asking Rent was $1,153 in the Columbus metro
- Rent in the Columbus metro was down 0.4% from Q3 2024.
- Rent is expected to finish 2025 at $1,171 in the Columbus metro.
Distribution / Warehousing
The average Asking Rent was $5.08 in the Columbus metro
- The Columbus metro had the fifth fastest rent growth in the nation, and the second in the Midwest region, behind only Cleveland.
- Columbus metro had its fastest rent rate of increase in six quarters.
- Rent has risen in every quarter since Q3 2020 in the Columbus metro.
Flex / R&D
The average Asking Rent was $7.32 in the Columbus metro
- Rent in the Columbus metro was up 0.5% from Q3 2024.
- Rent has risen in every quarter since Q1 2020 in the Columbus metro.
- Rent is expected to finish 2025 at $7.51 in the Columbus metro.
Office
The average Asking Rent was $20.60 in the Columbus metro
- The Columbus metro remained flat rent since Q3 2024.
- Rent is expected to finish 2025 at $20.93 in the Columbus metro.
Retail
The average Asking Rent was $14.36 in the Columbus metro
- Rent in the Columbus metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $14.65 in the Columbus metro.
VACANCY
Apartment
The average Vacancy Rate was 4.2% in the Dayton metro
- Vacancy in the Dayton metro drifted upward by 10 basis points.
- The Dayton metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2025 at 4.4% in the Dayton metro.
Distribution / Warehousing
The average Vacancy Rate was 10.0% in the Dayton metro
- Vacancy in the Dayton metro has been in decline for six consecutive quarters.
- The Dayton metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2025 at 9.7% in the Dayton metro.
Office
The average Vacancy Rate was 27.8% in the Dayton metro
- The Dayton metro had the highest vacancy in the nation.
- Vacancy in the Dayton metro drifted upward by 30 basis points.
- Vacancy is expected to finish 2025 at 28.8% in the Dayton metro.
Retail
The average Vacancy Rate was 14.8% in the Dayton metro
- Vacancy in the Dayton metro drifted upward by 20 basis points.
- The Dayton metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2025 at 15.1% in the Dayton metro.
RENT
Apartment
The average Asking Rent was $989 in the Dayton metro
- Rent in the Dayton metro was up 0.8% from Q3 2024.
- Dayton metro had its fastest rent rate of increase in four quarters.
- Rent is expected to finish 2025 at $1,013 in the Dayton metro.
Distribution / Warehousing
The average Asking Rent was $4.51 in the Dayton metro
- Rent in the Dayton metro was up 0.4% from Q3 2024.
- Rent has risen in every quarter since Q1 2021 in the Dayton metro.
- Rent is expected to finish 2025 at $4.63 in the Dayton metro.
Office
The average Asking Rent was $15.77 in the Dayton metro
- Rent in the Dayton metro was up 0.6% from Q3 2024.
- Dayton metro had its fastest rent rate of increase in eight quarters.
- Rent is expected to finish 2025 at $15.97 in the Dayton metro.
Retail
The average Asking Rent was $12.00 in the Dayton metro
- The Dayton metro had the fourth fastest rent growth in the nation, and the second in the Midwest region, behind only Kansas City.
- Dayton metro had its fastest rent rate of increase since Q1 2019.
- Rent is expected to finish 2025 at $12.09 in the Dayton metro.
VACANCY
Apartment
The average Vacancy Rate was 4.6% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2025 at 4.4% in the Pittsburgh metro.
Distribution / Warehousing
The average Vacancy Rate was 3.9% in the Pittsburgh metro
- No vacancy change since Q3 2024 in the Pittsburgh metro.
- Vacancy is expected to finish 2025 at 3.6% in the Pittsburgh metro.
Flex / R&D
The average Vacancy Rate was 12.5% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted downward by 30 basis points.
- The Pittsburgh metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2025 at 12.0% in the Pittsburgh metro.
Office
The average Vacancy Rate was 21.9% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted upward by 10 basis points.
- Vacancy is expected to finish 2025 at 23.1% in the Pittsburgh metro.
Retail
The average Vacancy Rate was 11.6% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro drifted downward by 40 basis points.
- The Pittsburgh metro had the lowest vacancy level since Q2 2020.
- Vacancy is expected to finish 2025 at 10.9% in the Pittsburgh metro.
RENT
Apartment
The average Asking Rent was $1,390 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 1.1% from Q3 2024.
- Pittsburgh metro had its fastest rent rate of increase in six quarters.
- Rent is expected to finish 2025 at $1,421 in the Pittsburgh metro.
Distribution / Warehousing
The average Asking Rent was $5.67 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.5% from Q3 2024.
- Rent has risen in every quarter for the past three years in the Pittsburgh metro.
- Rent is expected to finish 2025 at $5.83 in the Pittsburgh metro.
Flex / R&D
The average Asking Rent was $10.11 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.4% from Q3 2024.
- Rent has risen in every quarter since Q3 2021 in the Pittsburgh metro.
- Rent is expected to finish 2025 at $10.32 in the Pittsburgh metro.
Office
The average Asking Rent was $24.41 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.1% from Q3 2024.
- Rent is expected to finish 2025 at $24.72 in the Pittsburgh metro.
Retail
The average Asking Rent was $18.59 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.3% from Q3 2024.
- Rent is expected to finish 2025 at $18.92 in the Pittsburgh metro.
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.