Jul
08

Columbia Apartment Vacancy Rate Climbs

By
– Columbia Regional Business Report

The apartment vacancy rate in the Columbia market rose for the first time in five years. It climbed about 1% from 11.8% in October 2008 to 12.6% in April 2009, according to Real Data a Charlotte-area multi-family market research company.

In the past six months, supply increased by 493 units, while demand was down.

This is the first negative absorption in five years for the Columbia area. Average rents are $729 per month which is a decline of 2.0%, or $15.04, over the past six months. This is the first decline in rents since April 2004.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/125439/1/
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