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16 Jan, 2024
Analysis | Latest
Unveiling Growth: Cleveland-Elyria, OH Leads in 2023 Supply Expansion
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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Within the top 50 markets, the one that had the highest % supply growth in 2023 was the Cleveland-Elyria, OH CBSA.

In 2023 we saw Cleveland-Elyria, OH grow by 8.4%. With this large amount of supply added in the past year we can expect to see rates start to soften a bit.

Despite this supply growth, this market’s development pipeline indicates that there is another 6.76% of supply in various stages of Under Construction, planning or permitted.