Colliers Report: Multifamily market will stabilize this year

May 18, 2022

Commercial Real Estate Research & Forecast Report
Q1 2022 Columbia Multifamily

Market Highlights

As apartment prices continue to increase quarter-over-quarter and single-family home deliveries rise, many renters are choosing to buy homes. However, high-quality apartments such as The Palms on Main were pre-leasing prior to delivery.

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Key Takeaways

  • 535 units will deliver in 2022
  • Monthly asking rental rates increased 9.62% year-over-year for new leases


The Columbia multifamily housing market is stable, but the boom in single-family home deliveries caused negative absorption over the past two quarters. There are only 535 units currently under construction; therefore, there will not be a large surplus of deliveries during the stabilization process throughout this year.




About Colliers

Colliers | South Carolina has over 140 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2021 brokerage volume exceeded $1 billion, which included over 590 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. 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 17 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold 54 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina and set a new record by managing a portfolio of projects approaching $1 billion in volume during 2021.

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at, Twitter @Colliers or LinkedIn.