Like most apartment markets in the Midwest, Dayton, Ohio, is plodding through the weak economy with moderate growth in apartment development. The combination of higher unemployment and overbuilding in certain submarkets in Dayton in the late 1990s has created higher vacancies in 2001 and 2002.

At the end of 2001, the vacancy rate for the Dayton region was 7.3 percent, compared to 6.43 percent in 2000, according to David Liette, president and COO of MV Communities, and GEM Real Estate Group Inc.’s 2001 Dayton Regional Apartment Survey. Despite the increase in vacancy rates, two Dayton submarkets have seen recent growth.

In the downtown market, several loft market-rate developments have been placed in service. The jury is still out on the success of the downtown housing. “We’ll know better in a year or two,” Liette says.

Beavercreek/Fairborn has experienced significant growth in the higher end market rate apartments — particularly around the Fairfield Mall area. This market continues to be strong.

Development of affordable rental housing continues in Dayton. Two single-family lease-to-own developments are underway in west Dayton, totaling approximately 120 new four-bedroom homes.

Although slow growth is expected over the next couple of years, due to its dependence on the economy and job rate, keep an eye on the Huber Heights (north of Interstate 70) and Fairfield Mall areas for future development.


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