Q4 MARKET

Supply

1| New apartment completions in Dayton were modest recently, as 412 units delivered in 2022. Completions over the past year expanded the local inventory base 0.7%. 2| In the past year, supply was limited to Central Dayton/Kettering and Greene County. 3| Annual new supply averaged 553 units, and annual inventory growth averaged 1.0% over the past five years. During that period, new supply was concentrated in South Montgomery County and Central Dayton/Kettering, which received 64% of the markets total completions. 4| At the end of 2022, there were 886 units under construction with 661 of those units scheduled to complete in the next four quarters.

412 units completed in past 12 months

886 units currently in progress