Real Data: Columbia Apartment Vacancy at 7.7%


sorry rentedAccording to Real Data, the Columbia area’s occupancy rate remains healthy at 92.3%. The area recorded positive absorption over the past six months. Development activity increased during this time period with approximately 1,400 new starts, the majority of which are located in the Central (Downtown) submarket.

Same-store rents increased by 1.6% over the past six months bringing the average monthly rent to $893.

During the second half of 2015, demand is likely to remain at a healthy level, however, it will not be able to keep pace with the abundance of new supply expected to come on-line. Vacancy rates are forecast to approach 9% in the next twelve months.

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