Colliers Columbia Multifamily Report: Accelerating migration strengthens fundamentals
March 26, 2025
Commercial Real Estate Research & Forecast Report
Q4 2024 Columbia Multifamily
Market Highlights
The Columbia multifamily market continues to rally as net absorption hit a three-year high, due in large part to in-migration as a net 28 residents move into the metropolitan area each day. Workforce housing continues to be the primary driver as the market absorbs residents priced out of Charleston, Charlotte and major metros.
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Key Takeaways
- Columbia continues to outperform a slowing Southeastern multifamily market behind workforce housing demand
- Asking rents growing as the market continues a migration-driven upswing
- Difficult financing environment and potential for rising construction costs may challenge planned projects
Summary
The region’s accelerating growth rate, roughly 30% faster than the U.S. average, is likely to support several new downtown planned upscale projects barring tariff-related impacts on construction pricing and overall economic uncertainty.
About Colliers
Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 66 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 26 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering and Investment Management – we have a proven business model, an enterprising culture and a unique partnership philosophy that drives growth and value creation. With annual revenues exceeding $4.8 billion, a team of 23,000 professionals and $99 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
