Apartment MarketView Endyear Report 2020
Despite COVID, the Toledo, Ohio, area apartment market continued to strengthen in the second half of 2020, according to the results of the Reichle Klein Group endyear 2020 market survey. Overall market vacancy continued to decline and stands at 4.3% at endyear. Between June and December 2020, the average asking rental rate increased to $800 per month, up 2% from June 2020 and 9% since the conclusion of 2019.
Hot Topics
- Despite COVID, market strengthened in second half of 2020
- Average asking rental rate increased 9% since conclusion of 2019
- Overall vacancy drops to 4.3%
- Number of units under construction continues to fall from high at mid-2019
- Lack of available quality offerings slows sales market, not pandemic nor lack of buyer interest
- Buyer interest and pricing remain strong
