Columbus Real Estate Market Analysis

Houses for Sale in Columbus

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Columbus is the state capital and largest city of Ohio. With a population of almost 900,000 people,  it is the 14th most populous city in the US. The Columbus metropolitan area is home to nearly 2.13 million residents. The city’s fairly large population combined with the fact that 56.2% of the residents (according to NeighborhoodScout) live in rental properties rather than own a home is a good indicator for those considering investing in the Columbus real estate market, especially with regard to long-term rental properties. 

Columbus enjoys a diverse economy balanced among the services, trade, government, and manufacturing sectors, which makes for a high employment growth rate. It is home to the Battelle Memorial Institute, the world’s largest private research and development foundation; NetJets, the world’s largest fractional ownership jet aircraft fleet; and Chemical Abstracts Service (CAS), the world’s largest clearinghouse of chemical information. Several higher learning institutions are located in Columbus, including Ohio State University, which is the largest employer in the city. Columbus is the corporate headquarters for many nationwide firms. Large financial institutions such as JP Morgan Chase and Huntington operate more than 400 offices throughout the metropolitan area. With more than 70 insurance companies based in the city, Columbus ranks among the insurance capitals of the US. In total, there are five Fortune 500 companies headquartered in the city. The US government is the city’s third largest employer, employing a total of 13,800 employees. Other industries in Columbus include manufacturing, technology, healthcare, retail, food, energy, logistics, and fashion. 


The Columbus real estate market was named the 23rd most important U.S. Market to Watch by PWC in its annual Emerging Trends in Real Estate: United States and Canada 2019 report. The city’s expanding economy, growing population, as well as good quality of life contribute to a stable housing market that has profitable real estate investment opportunities to offer. 

Columbus  Real Estate Investment Performance

Facts and Market Trends in Columbus
Homes For Sale1,043
Airbnb Properties1,702
Rental Properties856
Traditional Vacancy rate4.60%
Airbnb Occupancy Rate55.06%
Mashmeter47.42%
Median Price$269,000
Median Rent Price$1,734
Price/sqft$240
Median Days on Market64
Price to Rent Ratio18.7
Average Cap Rate
Airbnb6.31%
Traditional3.67%
Average Rental Income
Airbnb$2,540
Traditional$1,463
 
Median Household Income$58,575
Population906,528
Transportation in Columbus
41 / 100
Car-Dependent
30 / 100
Some Transit
48 / 100
Somewhat Bikeable
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Columbus  Rent Prices

RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$1,386$1,861$2,172$3,147$3,743
Traditional$925$1,029$1,329$1,676$1,861

Columbus, OH - Homes for Sale - Newly Listed

5345 Valley Lane E #Z73
Columbus, OH 43231
Parkview
Condo/Coop
3 beds3 baths1,644 sq.ft.
CAP RATE
Trad. 4.34%Airbnb 5.83%
1807 Kings Court #F
Columbus, OH 43212
Tri-Village
Condo/Coop
2 beds1 baths1,140 sq.ft.
CAP RATE
Trad. 3.81%Airbnb 3.13%
2684 Welsford Road
Columbus, OH 43221
West Campus
Single Family Residential
3 beds2 baths1,610 sq.ft.
CAP RATE
Trad. 0.09%Airbnb 2.29%
365 S Burgess Avenue
Columbus, OH 43204
South Central Hilltop
Single Family Residential
2 beds1 baths1,176 sq.ft.
CAP RATE
Trad. 2.61%Airbnb 6.01%

Top Performing Columbus Properties

1531 S Champion Avenue
Columbus, OH 43207
Vasser Village (Lincoln Park)
Single Family Residential
3 beds2 baths1,152 sq.ft.
CAP RATE
Trad. 6.88%Airbnb 7.99%
2299 Woodbrook Circle N #327
Columbus, OH 43223
Brookshire
Condo/Coop
2 beds2 baths960 sq.ft.
CAP RATE
Trad. 3.49%Airbnb 7.99%
1113 Shady Lane Road
Columbus, OH 43227
Shady Lane
Single Family Residential
3 beds2 baths1,343 sq.ft.
CAP RATE
Trad. 3.63%Airbnb 7.99%
1036 E 18th Avenue
Columbus, OH 43211
South Linden
Single Family Residential
3 beds1 baths1,008 sq.ft.
CAP RATE
Trad. 4.53%Airbnb 7.97%

Recently Sold Homes in Columbus, OH

4900 Root Street
Columbus, OH 43207
South Central Accord
Single Family Residential
4 beds1 baths1,225 sq.ft.
CAP RATE
Trad. 8.91%Airbnb N/A
3245 Burdett Court
Columbus, OH 43232
Walnut Heights
Single Family Residential
4 beds3 baths1,704 sq.ft.
CAP RATE
Trad. 3.39%Airbnb 6.04%
3269 Donalda Court
Columbus, OH 43231
Northern Woods
Condo/Coop
2 beds2 baths1,412 sq.ft.
CAP RATE
Trad. 3.69%Airbnb 5.70%
1446 Cliff Court #A31
Columbus, OH 43204
Marble Cliff Crossing
Condo/Coop
1 beds1 baths770 sq.ft.
CAP RATE
Trad. 0.70%Airbnb 3.37%

Property Value Changes and Real Estate Appreciation in the Columbus Housing Market

Real estate appreciation has been moderate for Columbus homes for sale. According to NeighborhoodScout, since 2000, Columbus property values have increased by 45.06%, which equates to an average annual appreciation rate of 1.95%. Meanwhile, Zillow reported a 9.2% increase in the median property value in the Columbus real estate market over the past year. This housing market trend is expected to continue, which makes Columbus a hot seller’s market with vast opportunities for long-term return on investment.

Nevertheless, Columbus investment properties remain affordable at the moment. This makes the local housing market one of the best cities to invest in real estate.

Columbus, OH Top Multi Family Homes

2948 Medina Avenue
Columbus, OH 43224
North Linden
Multi Family
0 beds0 baths1,564 sq.ft.
CAP RATE
Trad. 7.39%Airbnb N/A
1976 Sullivant Avenue
Columbus, OH 43223
Central Hilltop
Multi Family
0 beds0 baths2,640 sq.ft.
CAP RATE
Trad. 7.32%Airbnb N/A
1900 Hamilton Avenue
Columbus, OH 43211
South Linden
Multi Family
0 beds0 baths2,400 sq.ft.
CAP RATE
Trad. 7.16%Airbnb N/A
936-938 S Weyant Avenue
Columbus, OH 43227
Eastmoor
Multi Family
0 beds0 baths1,472 sq.ft.
CAP RATE
Trad. 6.95%Airbnb N/A

Homes Below Median Price in the Columbus, OH Real Estate Market

1531 S Champion Avenue
Columbus, OH 43207
Vasser Village (Lincoln Park)
Single Family Residential
3 beds2 baths1,152 sq.ft.
CAP RATE
Trad. 6.88%Airbnb 7.99%
2299 Woodbrook Circle N #327
Columbus, OH 43223
Brookshire
Condo/Coop
2 beds2 baths960 sq.ft.
CAP RATE
Trad. 3.49%Airbnb 7.99%
1113 Shady Lane Road
Columbus, OH 43227
Shady Lane
Single Family Residential
3 beds2 baths1,343 sq.ft.
CAP RATE
Trad. 3.63%Airbnb 7.99%
1036 E 18th Avenue
Columbus, OH 43211
South Linden
Single Family Residential
3 beds1 baths1,008 sq.ft.
CAP RATE
Trad. 4.53%Airbnb 7.97%

Columbus Airbnb Growth and Regulations

The vacation rental industry in Columbus has thrived in recent years. Columbus was the hottest Midwest Airbnb market in 2018, with more than 107,000 guests staying at Airbnb Columbus rentals, bringing in a total of $11.7 million for the local hosts. 

The good news for Airbnb Columbus investors is that short-term rentals are fully legal throughout the city. Nevertheless, they are regulated. Among the Airbnb regulations in the city, short-term rental hosts are required to obtain a permit in order to operate. Hosts are required to apply in person at the city’s Department of Public Safety License Section. They must submit a signed and notarized Short-Term Rental Application and pay a fee of $20. In the case a person rents out their primary residence to guests, the permit cost is $75 per calendar year. The permit cost for any non-primary residence is $150 each per calendar year.  

As part of the application, Airbnb hosts must also provide the city with proof of identity, general liability insurance, a copy of the lease agreement for the short-term rental, and confirmation of compliance with all state and federal regulations.

Columbus, OH Top Airbnb Homes

Entire home/apt · 1 bed
Short North Carriage House
819
Entire home/apt · 2 beds
Short North / Weinland Park Duplex
700
Entire home/apt · 2 beds
Weinland Park / Short North Duplex
697
Entire home/apt · 3 beds
Short North - Italianate Cottage
696

Columbus, OH Homes for Rent

194 N Oakley Avenue
Columbus, OH 43204
North Hilltop
Single Family
4 beds1 baths1,472 sq.ft.

Columbus, OH Open Houses

1807 Kings Court #F
Columbus, OH 43212
Tri-Village
Condo/Coop
2 beds1 baths1,140 sq.ft.
CAP RATE
Trad. 3.81%Airbnb 3.13%
2684 Welsford Road
Columbus, OH 43221
West Campus
Single Family Residential
3 beds2 baths1,610 sq.ft.
CAP RATE
Trad. 0.09%Airbnb 2.29%
1359 S 5th Street
Columbus, OH 43207
Merion Village
Single Family Residential
2 beds1 baths1,159 sq.ft.
CAP RATE
Trad. 0.59%Airbnb 2.26%
1167 Ellsworth Avenue
Columbus, OH 43206
Near Southside
Single Family Residential
2 beds1 baths1,286 sq.ft.
CAP RATE
Trad. 2.94%Airbnb 5.41%

Best Columbus Neighborhoods for Buying Investment Property

Northgate
Columbus, OH
90%
Mashmeter
property price
364900
Median
cap rate
3.38%
Traditional
8.88%
Airbnb
rental income
$1,027
Traditional
$2,702
Airbnb
homes for sale
6
occupancy rate
67%
Airbnb
Cross Creek
Columbus, OH
90%
Mashmeter
property price
769990
Median
cap rate
2.69%
Traditional
5.12%
Airbnb
rental income
$1,724
Traditional
$3,288
Airbnb
homes for sale
0
occupancy rate
62%
Airbnb
Deer Creek
Columbus, OH
84%
Mashmeter
property price
265000
Median
cap rate
7.00%
Traditional
12.26%
Airbnb
rental income
$1,545
Traditional
$2,709
Airbnb
homes for sale
0
occupancy rate
67%
Airbnb
Dexter Falls
Columbus, OH
82%
Mashmeter
property price
338791
Median
cap rate
5.36%
Traditional
10.56%
Airbnb
rental income
$1,513
Traditional
$2,981
Airbnb
homes for sale
8
occupancy rate
70%
Airbnb
Tri-South
Columbus, OH
82%
Mashmeter
property price
165000
Median
cap rate
7.62%
Traditional
17.74%
Airbnb
rental income
$1,048
Traditional
$2,439
Airbnb
homes for sale
5
occupancy rate
54%
Airbnb
Other Housing Market Reports

All Columbus Neighborhoods