Regional Summaries

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Cincinnati, OH

Vacancy in the 110,307-unit Cincinnati apartment market was down 10 basis points in the first quarter of 2017 to 3.8%. The rate is unchanged in April. Reis reports a first quarter 2017 average asking rent of $845 per month, up 2.8% year-over-year. The average effective rent of $815 per month was up 2.5% over the same time span. Rents posted gains of 0.1% asking and 0.1% effective in the first quarter. This year has gotten off to a quiet start. Asking and effective rents rose 0.3% in April. VIEW APARTMENT LISTINGS >
Cincinnati’s warehouse/distribution market finished April 2017 with a 9.9% vacancy rate. The rate had been 10.8% at year-end 2016. The rate was below the 11.0% mark for 2015 and 2016. Reis reports first quarter average asking and effective rents of $3.34 psf and $3.11 psf, respectively, up 0.6% each over the quarter, and up 2.1% and 2.3% year-over-year. For Flex/R&D space, Reis reports first quarter 2017 vacancy at 12.9%, up 60 basis points from the prior quarter and up 110 basis points year-over-year. The rate is 12.6% in April. Average asking and effective rents finished the first quarter at $6.26 psf and $5.75 psf, respectively, up 0.2% each for the quarter, and up 1.5% and 1.4% year-over-year. VIEW INDUSTRIAL LISTINGS >
The Cincinnati general purpose, multi-tenant office market’s April 2017 vacancy rate of 16.7% was unchanged year-to-date. The rate has been creeping down from the 19.1% rate recorded in 2014, but it has a long way to go before this market can be considered strong. Asking rents rose 0.2% in the first quarter, while effective rents were unchanged, at $19.51 psf and $15.56 psf, respectively. Both rates are up 1.6% over the year and posted 0.1% gains in April. VIEW OFFICE LISTINGS >
The vacancy rate in Cincinnati’s 22.3-million-square-foot community-neighborhood shopping center market was 11.7% in the first quarter of 2017, down 80 basis points for the quarter and down 10 basis points year-over-year, according to Reis. The April rate was unchanged. The first quarter community-neighborhood shopping center market asking rent of $15.48 psf is up 0.7% from the previous quarter and up 1.0% year-over-year. The average effective rent of $13.08 psf is up 0.8% for the quarter and up 1.2% year-over-year. Asking and effective rents rose 0.1% in April. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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