Report: Cincinnati area needs 21,000 apartments by 2035
Cincinnati needs to build 21,677 new multifamily units by 2035, according to a new report from The National Apartment Association and The National Multifamily Housing Council.
Nationwide, the number of news units is 4.3 million, the report found.
"While the pandemic-induced slowdown in household growth over the past couple of years allowed the market to absorb much of this
excess demand," the report states, "we estimate another 600,000 units are needed to bring the 5+ rental market back to an equilibrium state reflecting only moderate increases in housing costs, bringing total forecast demand to 4.3 million units."