Columbus Retail Market Report

Population growth helps limit available space. As Ohio’s capital and most populous city, Columbus continues to record the fastest population growth among major Midwestern metros, supporting sustained demand for retail space. Vacancy should hover near 4.5 percent this year, about 200 basis points below the metro’s historical average. Space-demand growth is concentrated on the north side, where North Columbus and Delaware County posted vacancy rates of nearly 2.5 percent in 2025, the lowest among major submarkets in the metro. North Columbus remains an established growth corridor, while Delaware County, the state’s fastest-growing county, is projected to increase in population by about 50 percent by 2050. In contrast, properties in Columbus West, particularly older multi-tenant centers, may continue to face elevated vacancy as backfilling remains challenging amid a nationwide struggle for aging retail stock.