Columbia, SC Multi-Family Market Snapshot


According to Real Data, the overall vacancy rate for the Columbia apartment market improved to 12% in April 2010. The vacancy rate will continue to improve due to the lack of new development. Units under construction have fallen to only 112 while proposed units have decreased by half.
This absence of new supply, along with increasing demand as the economy improves, will allow occupancy rates to improve substantially over the next eighteen months.
Rent growth remained weak with decreasing same-store rents. Downward pressure on rents will continue for the near term.
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