Midwest

By Ryan Duling and Andy Warnock, Lument Sizing up the Columbus, Ohio multifamily market is more challenging than it may seem to the casual observer. Neither fish nor fowl, Columbus doesn’t fit comfortably within the definitions of either growth or high-yield markets. Looked at from one angle, it appears largely suburban and conventional, but from another, increasingly sophisticated and demographically youthful. The presence of large institutions in the economic landscape — banks, healthcare systems, state government, universities — lend Columbus a slightly plodding image, but the heartbeat of the local economy is a dynamic group of middle market concerns punching above their weight class in logistics, professional services, retail and the digital spectrum. Metaphorically, it’s the cousin you considered a bit dull growing up who blossomed into an adult success. C-Bus’s relatively low population density, younger demographics and the relative ease of its transition to the work-from-home environment paid hefty dividends during the pandemic. Because infection and hospitalization rates were lower than average, the local economy was able to return to near normal in February, positioning the market to take full advantage of the stimulus-fueled economic recovery that could find its stride this summer. Labor market weathers pandemic Although COVID …