Real Data: 900 Units Under Construction in Columbia CBD


real data LogoThe Columbia area’s vacancy rate has remained virtually unchanged over the past two years and is currently 7.5%. Developers are currently focused on the Central (Downtown) submarket with nearly 900 units under-construction and almost 1,900 units proposed in that submarket alone. The current average monthly rent is $931 which has increased by 3.5% over the past twelve months.

With over 1,700 units expected to come on-line over the next six months, vacancy rates are expected to rise to 8.5% to 9.5%. There will likely be an 1.5% to 2% upturn in rental rates over the next twelve months.

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    Categories : Columbia

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