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Ohio
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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 4.8% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 10 basis points.
- The Cincinnati metro had the highest vacancy level since Q2 2021.
- Vacancy is expected to finish 2024 at 4.9% in the Cincinnati metro.
Distribution / Warehousing
The average Vacancy Rate was 9.0% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted downward by 30 basis points.
- The Cincinnati metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 8.8% in the Cincinnati metro.
Flex / R&D
The average Vacancy Rate was 6.1% in the Cincinnati metro
- Vacancy in the Cincinnati metro fell by 190 basis points.
- The Cincinnati metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2024 at 5.9% in the Cincinnati metro.
Office
The average Vacancy Rate was 21.0% in the Cincinnati metro
- No vacancy change since Q1 2024 in the Cincinnati metro.
- The Cincinnati metro had the highest vacancy level since Q3 1995.
- Vacancy is expected to finish 2024 at 21.0% in the Cincinnati metro.
Retail
The average Vacancy Rate was 10.9% in the Cincinnati metro
- Vacancy in the Cincinnati metro drifted upward by 20 basis points.
- The Cincinnati metro had the highest vacancy level since year-end 2019.
- Vacancy is expected to finish 2024 at 10.8% in the Cincinnati metro.
RENT
Apartment
The average Asking Rent was $1,172 in the Cincinnati metro
- The Cincinnati metro had the fifth fastest rent growth in the nation, and the second in the Midwest region, behind only Wichita.
- Cincinnati metro had its fastest rent rate of increase in six quarters.
- Rent is expected to finish 2024 at $1,180 in the Cincinnati metro.
Distribution / Warehousing
The average Asking Rent was $4.77 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.6% from Q1 2024.
- Cincinnati metro had its fastest rent rate of increase in four quarters.
- Rent Has risen for six consecutive quarters in the Cincinnati metro.
Flex / R&D
The average Asking Rent was $7.81 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.3% from Q1 2024.
- Rent has risen in every quarter since Q3 2020 in the Cincinnati metro.
- Rent is expected to finish 2024 at $7.95 in the Cincinnati metro.
Office
The average Asking Rent was $19.97 in the Cincinnati metro
- Rent in the Cincinnati metro was up 0.6% from Q1 2024.
- Cincinnati metro had its fastest rent rate of increase since year-end 2016.
- Rent is expected to finish 2024 at $20.06 in the Cincinnati metro.
Retail
The average Asking Rent was $16.81 in the Cincinnati metro
- The Cincinnati metro had the fastest rent growth in the Midwest region, fourth most rapid in the nation.
- Cincinnati metro had its fastest rent rate of increase since Q2 2019.
- Rent is expected to finish 2024 at $16.87 in the Cincinnati metro.
VACANCY
Apartment
The average Vacancy Rate was 3.6% in the Cleveland metro
- Vacancy in the Cleveland metro drifted downward by 40 basis points.
- The Cleveland metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 3.4% in the Cleveland metro.
Distribution / Warehousing
The average Vacancy Rate was 7.2% in the Cleveland metro
- Vacancy in the Cleveland metro declined by 50 basis points.
- The Cleveland metro had the lowest vacancy level since Q3 2009.
- Vacancy is expected to finish 2022 at 7.0% in the Cleveland metro.
Flex / R&D
The average Vacancy Rate was 14.3% in the Cleveland metro
- The Cleveland metro had the second highest vacancy in the nation. Only Pittsburgh is currently softer.
- No vacancy change since Q3 2021 in the Cleveland metro.
- The Cleveland metro had the lowest vacancy level since Q3 2009.
Office
The average Vacancy Rate was 21.8% in the Cleveland metro
- Vacancy in the Cleveland metro rose by 70 basis points.
- The Cleveland metro had the highest vacancy level since Q1 2021.
- Vacancy is expected to finish 2024 at 22.0% in the Cleveland metro.
Retail
The average Vacancy Rate was 13.1% in the Cleveland metro
- Vacancy in the Cleveland metro drifted downward by 20 basis points.
- The Cleveland metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 13.0% in the Cleveland metro.
RENT
Apartment
The average Asking Rent was $1,212 in the Cleveland metro
- The Cleveland metro remained flat rent since Q1 2024.
- Rent is expected to finish 2024 at $1,224 in the Cleveland metro.
Distribution / Warehousing
The average Asking Rent was $4.58 in the Cleveland metro
- Rent in the Cleveland metro was up 1.1% from Q3 2021.
- Cleveland metro had its fastest rent rate of increase since Q2 2011.
- Rent is expected to finish 2022 at $4.72 in the Cleveland metro.
Flex / R&D
The average Asking Rent was $7.95 in the Cleveland metro
- The Cleveland metro had the lowest rent growth in the nation.
- Rent is expected to finish 2022 at $8.20 in the Cleveland metro.
Office
The average Asking Rent was $20.30 in the Cleveland metro
- The Cleveland metro had the fastest rent growth in the Midwest region, third most rapid in the nation.
- Cleveland metro had its fastest rent rate of increase since Q2 2002.
- Rent is expected to finish 2024 at $20.35 in the Cleveland metro.
Retail
The average Asking Rent was $16.35 in the Cleveland metro
- Rent in the Cleveland metro was up 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $16.45 in the Cleveland metro.
VACANCY
Apartment
The average Vacancy Rate was 5.3% 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 2024 at 5.6% in the Columbus metro.
Distribution / Warehousing
The average Vacancy Rate was 8.6% in the Columbus metro
- Vacancy in the Columbus metro drifted downward by 40 basis points.
- Vacancy is expected to finish 2024 at 8.4% in the Columbus metro.
Flex / R&D
The average Vacancy Rate was 8.2% in the Columbus metro
- No vacancy change since Q1 2024 in the Columbus metro.
- The Columbus metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 7.9% in the Columbus metro.
Office
The average Vacancy Rate was 21.7% in the Columbus metro
- Vacancy in the Columbus metro increased by 160 basis points.
- The Columbus metro had the highest vacancy level since Q1 2003.
- Vacancy is expected to finish 2024 at 21.5% in the Columbus metro.
Retail
The average Vacancy Rate was 9.8% in the Columbus metro
- Vacancy in the Columbus metro drifted downward by 10 basis points.
- The Columbus metro had the lowest vacancy level since year-end 2003.
- Vacancy is expected to finish 2024 at 10.1% in the Columbus metro.
RENT
Apartment
The average Asking Rent was $1,139 in the Columbus metro
- Rent in the Columbus metro was up 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $1,151 in the Columbus metro.
Distribution / Warehousing
The average Asking Rent was $4.97 in the Columbus metro
- Rent in the Columbus metro was up 0.4% from Q1 2024.
- Rent has risen in every quarter since Q3 2020 in the Columbus metro.
- Rent is expected to finish 2024 at $5.04 in the Columbus metro.
Flex / R&D
The average Asking Rent was $7.15 in the Columbus metro
- Rent in the Columbus metro was up 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $7.26 in the Columbus metro.
Office
The average Asking Rent was $20.58 in the Columbus metro
- Rent in the Columbus metro was up 0.2% from Q1 2024.
- Rent Has risen for seven consecutive quarters in the Columbus metro.
- Rent is expected to finish 2024 at $20.72 in the Columbus metro.
Retail
The average Asking Rent was $14.24 in the Columbus metro
- Rent in the Columbus metro was up 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $14.40 in the Columbus metro.
VACANCY
Apartment
The average Vacancy Rate was 3.8% in the Dayton metro
- Vacancy in the Dayton metro drifted downward by 20 basis points.
- The Dayton metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2024 at 4.2% in the Dayton metro.
Distribution / Warehousing
The average Vacancy Rate was 12.0% in the Dayton metro
- Vacancy in the Dayton metro declined by 190 basis points.
- The Dayton metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 11.7% in the Dayton metro.
Office
The average Vacancy Rate was 28.7% in the Dayton metro
- The Dayton metro had the highest vacancy in the nation.
- Vacancy in the Dayton metro increased by 120 basis points.
- The Dayton metro had the highest vacancy level since Q2 2021.
Retail
The average Vacancy Rate was 15.1% in the Dayton metro
- No vacancy change since Q1 2024 in the Dayton metro.
- The Dayton metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 14.8% in the Dayton metro.
RENT
Apartment
The average Asking Rent was $977 in the Dayton metro
- Rent in the Dayton metro was up 0.4% from Q1 2024.
- Rent is expected to finish 2024 at $985 in the Dayton metro.
Distribution / Warehousing
The average Asking Rent was $4.48 in the Dayton metro
- Rent in the Dayton metro was up 0.4% from Q1 2024.
- Rent has risen in every quarter since Q1 2021 in the Dayton metro.
- Rent is expected to finish 2024 at $4.54 in the Dayton metro.
Office
The average Asking Rent was $15.69 in the Dayton metro
- Rent in the Dayton metro was up 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $15.80 in the Dayton metro.
Retail
The average Asking Rent was $11.85 in the Dayton metro
- The Dayton metro had the lowest rent growth in the nation.
- Rent is expected to finish 2024 at $11.96 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.
- The Pittsburgh metro had the highest vacancy level since Q1 2019.
- Vacancy is expected to finish 2024 at 5.0% in the Pittsburgh metro.
Distribution / Warehousing
The average Vacancy Rate was 4.0% in the Pittsburgh metro
- No vacancy change since Q1 2024 in the Pittsburgh metro.
- The Pittsburgh metro had the highest vacancy level since year-end 2021.
- Vacancy is expected to finish 2024 at 3.8% in the Pittsburgh metro.
Flex / R&D
The average Vacancy Rate was 12.5% in the Pittsburgh metro
- The Pittsburgh metro had the second highest vacancy in the nation. Only Cleveland is currently softer.
- No vacancy change since Q1 2024 in the Pittsburgh metro.
- Vacancy is expected to finish 2024 at 12.2% in the Pittsburgh metro.
Office
The average Vacancy Rate was 23.0% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro increased by 150 basis points.
- The Pittsburgh metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 22.7% in the Pittsburgh metro.
Retail
The average Vacancy Rate was 11.6% in the Pittsburgh metro
- Vacancy in the Pittsburgh metro fell by 50 basis points.
- The Pittsburgh metro had the lowest vacancy level since Q2 2020.
- Vacancy is expected to finish 2024 at 11.4% in the Pittsburgh metro.
RENT
Apartment
The average Asking Rent was $1,374 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 1.0% from Q1 2024.
- Pittsburgh metro had its fastest rent rate of increase in four quarters.
- Rent is expected to finish 2024 at $1,391 in the Pittsburgh metro.
Distribution / Warehousing
The average Asking Rent was $5.59 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.4% from Q1 2024.
- Rent Has risen for ten consecutive quarters in the Pittsburgh metro.
- Rent is expected to finish 2024 at $5.67 in the Pittsburgh metro.
Flex / R&D
The average Asking Rent was $9.97 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.4% from Q1 2024.
- Rent Has risen for eleven consecutive quarters in the Pittsburgh metro.
- Rent is expected to finish 2024 at $10.08 in the Pittsburgh metro.
Office
The average Asking Rent was $24.36 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.5% from Q1 2024.
- Rent is expected to finish 2024 at $24.49 in the Pittsburgh metro.
Retail
The average Asking Rent was $18.44 in the Pittsburgh metro
- Rent in the Pittsburgh metro was up 0.3% from Q1 2024.
- Pittsburgh metro had its fastest rent rate of increase three years.
- Rent Has risen for seven consecutive quarters 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.