February 2026 Multifamily Market Report - Licking County
February 2026 Multifamily Market Report – Licking County
Residential (1–4 Units) & Commercial (5+ Units) Activity
- Executive Summary
In February 2026, Licking County recorded 7 multifamily transfers, with 2 qualifying as valid arm’s-length market sales, both occurring within the residential duplex segment.
The two valid duplex transactions totaled $376,360 in verified market volume, reflecting continued investor demand for small residential multifamily assets in Newark.
Limited valid inventory — rather than weakening demand — continues to constrain transaction volume. Capital markets remain stable but disciplined, with national multifamily delinquency trends reinforcing cautious underwriting across regional lenders. - Licking County Multifamily (MF) Sales Overview (Valid & Non-Valid)
February recorded 2 transfers qualified as valid arm’s-length market sales, both within the residential duplex segment.
Five transfers were non-valid and primarily reflect ownership changes or transactions not indicative of open-market pricing.2.1 Residential Multifamily Sales (Valid & Non-Valid)
Residential properties accounted for 6 of the 7 total transfers during the month.
Valid Residential Sales – Newark, Ohio:- Poplar Avenue — $156,360 (Approx. $78,180 per unit)
- Williams Street — $220,000 ($110,000 per unit)
Duplex pricing ranged from approximately $78,000 to $110,000 per unit.
February Pricing Range (Valid Sales): $156,360 – $220,000 | Newark, Ohio
2.2 Commercial Multifamily Sales (Valid & Non-Valid)
One commercial multifamily (40+ units) transfer in Reynoldsburg was recorded in February. The transaction did not qualify as a valid arms-length sale.
No open-market commercial multifamily transactions occurred during the reporting period. - City-Level Breakdown
All valid transactions occurred in Newark, Ohio. No multifamily activity was recorded in Heath, Pataskala, Johnstown, Granville, Buckeye Lake, or the Licking County portion of New Albany during the reporting period. - Columbus MSA Multifamily Market Context
The broader Columbus Metropolitan Statistical Area continues to absorb elevated supply delivered during 2023–2025, with vacancy levels remaining above historical averages.
Secondary markets such as Licking County continue to benefit from relative affordability compared to Franklin and Delaware Counties. - Ohio & National Institutional Capital Markets Update
National multifamily delinquency rates have risen modestly, reinforcing disciplined underwriting standards among lenders. - Divergence Analysis-Licking County Compared to MSA Columbus and Ohio
Within the small residential duplex category, transaction pricing remains stable and investor participation continues. - What We Are Monitoring Next Month
- Duplex pricing trends
- Commercial multifamily activity
- Newark zoning and density approvals
- Regional absorption tied to industrial growth
- Lending standards and rate stability