In Columbus, industrial and multifamily construction costs have trended upward through 2024 and into 2025. While specific dollar figures are reserved for detailed cost tables, contractors and construction managers should anticipate elevated site‑work, structural, enclosure, architectural, and MEP cost components, particularly for medium and large‑scale projects. These cost pressures are driven by inflation in materials, labor, and regulatory overhead.
Multifamily development has slowed due to rising input costs and high interest rates, with deliveries down significantly in 2024 and only modest increases expected in 2025. Developers are shifting toward suburban locations where land and entitlement processes are more favorable.
Trade labor, journeyman, and subcontractor rates in Columbus are rising in line with national inflationary pressures and local demand. Tight labor markets and extended project timelines—often stretched by permitting delays—are contributing to upward pressure on labor costs.
Equipment rental rates in Columbus vary by machine size and duration. Small equipment typically commands lower daily rates, while mid‑size and large machinery incur higher daily, weekly, and monthly charges. Contractors should plan for flexible rental packages and multi‑day discounts to manage equipment cost efficiency.
Columbus’s construction sector is navigating a complex economic environment. Multifamily vacancy rates have tightened, and rent growth remains steady, supporting demand for new housing despite cost headwinds. Meanwhile, major infrastructure investments—such as the $1.4 billion I‑70/I‑71 “Downtown Ramp Up” highway overhaul and a $2.5 billion state bond program for infrastructure—are fueling construction activity and labor demand. These projects are expected to generate thousands of construction jobs and influence local cost dynamics.
