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Columbus

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 Realtors and Real Estate Agents

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Columbus  Real Estate Investment Performance
Facts and Market Trends in Columbus
Homes For Sale1,208
Airbnb Properties658
Rental Properties3,263
Traditional Vacancy rate5.40%
Airbnb Occupancy Rate56.91%
Mashmeter53.93%
Median Price$217,581
Median Rent Price$1,252
Price/sqft$131
Median Days on Market61
Price to Rent Ratio15.1
Average Cap Rate
Airbnb5.64%
Traditional1.78%
Average Rental Income
Airbnb$2,276
Traditional$1,197
 
Median Household Income$63,764
Population879,170
Transportation in Columbus
41 / 100
Car-Dependent
33 / 100
Some Transit
47 / 100
Somewhat Bikeable
Columbus  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$1,679$1,734$1,875$2,324$3,125
Traditional$671$828$974$1,284$1,539
Columbus, OH - Homes for Sale - Newly Listed
Investment Properties for Sale
$349,900
MLS 219042716
1368 Oak Street
Columbus, OH 43205
Near East
Single Family Residential
3 beds2 baths1,500 sq.ft.
CAP RATE
Trad. -0.63%Airbnb 3.37%
Investment Properties for Sale
$254,900
MLS 219042684
945 Heyl Avenue
Columbus, OH 43206
Southern Orchards
Single Family Residential
4 beds2 baths1,356 sq.ft.
CAP RATE
Trad. 2.70%Airbnb 6.26%
Investment Properties for Sale
$350,000
MLS 219042778
503 E Kossuth Street
Columbus, OH 43206
Schumacher Place
Single Family Residential
3 beds2 baths1,226 sq.ft.
CAP RATE
Trad. 1.24%Airbnb 2.62%
Investment Properties for Sale
$139,900
MLS 219042615
2312 Pinzon Place #103
Columbus, OH 43235
Brookside Woods
Condo/Coop
2 beds2 baths1,093 sq.ft.
CAP RATE
Trad. 0.36%Airbnb 0.84%
Top Performing Columbus Properties
Investment Properties for Sale
$235,000
MLS 219038180
684 Kimball Place
Columbus, OH 43205
South of Main
Single Family Residential
4 beds3 baths2,075 sq.ft.
CAP RATE
Trad. 2.23%Airbnb 7.90%
Investment Properties for Sale
$299,800
MLS 219035349
2023 Kentwell Road
Columbus, OH 43221
Cranbrook
Single Family Residential
3 beds1 baths1,225 sq.ft.
CAP RATE
Trad. 0.69%Airbnb 7.89%
Investment Properties for Sale
$94,999
MLS 219023653
2750 Hiawatha Street
Columbus, OH 43211
Glen Echo
Single Family Residential
2 beds1 baths672 sq.ft.
CAP RATE
Trad. 6.07%Airbnb 7.86%
Investment Properties for Sale
$304,900
MLS 219041133
1140 Trentwood Road
Columbus, OH 43221
Cranbrook
Single Family Residential
3 beds2 baths2,106 sq.ft.
CAP RATE
Trad. 0.76%Airbnb 7.84%
Recently Sold Homes in Columbus, OH
Investment Properties for Sale
$474,900
MLS 219041193
145 E Livingston Avenue
Columbus, OH 43215
German Village Commission
Multi Family
0 beds0 baths2,523 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$479,000
MLS 219033240
888-890 Dennison Avenue
Columbus, OH 43215
Victorian Village
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$900,000
MLS 219023584
3245 Sullivant Avenue
Columbus, OH 43204
Southwest Hilltop
Multi Family
0 beds0 baths12,523 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$240,000
MLS 219010279
1058 E 15th Avenue
Columbus, OH 43211
South Linden
Multi Family
0 beds0 baths2,750 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
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
Investment Properties for Sale
$65,900
MLS 219032889
1867-1869 Cleveland
Columbus, OH 43211
South Linden
Multi Family
0 beds0 baths2,775 sq.ft.
CAP RATE
Trad. 7.98%Airbnb N/A
Investment Properties for Sale
$75,000
MLS 219027105
91-93 N Central Avenue
Columbus, OH 43222
North Franklinton
Multi Family
0 beds0 baths2,361 sq.ft.
CAP RATE
Trad. 6.72%Airbnb N/A
Investment Properties for Sale
$74,900
MLS 219042515
510 Olpp Avenue #12
Columbus, OH 43207
Vasser Village (Lincoln Park)
Multi Family
0 beds0 baths2,080 sq.ft.
CAP RATE
Trad. 6.38%Airbnb N/A
Investment Properties for Sale
$79,000
MLS 219037381
2236 Rankin Avenue #2236-2240
Columbus, OH 43211
Arlington Park
Multi Family
0 beds0 baths1,664 sq.ft.
CAP RATE
Trad. 5.99%Airbnb N/A
Homes Below Median Price in the Columbus, OH Real Estate Market
Investment Properties for Sale
$235,000
MLS 219038180
684 Kimball Place
Columbus, OH 43205
South of Main
Single Family Residential
4 beds3 baths2,075 sq.ft.
CAP RATE
Trad. 2.23%Airbnb 7.90%
Investment Properties for Sale
$299,800
MLS 219035349
2023 Kentwell Road
Columbus, OH 43221
Cranbrook
Single Family Residential
3 beds1 baths1,225 sq.ft.
CAP RATE
Trad. 0.69%Airbnb 7.89%
Investment Properties for Sale
$94,999
MLS 219023653
2750 Hiawatha Street
Columbus, OH 43211
Glen Echo
Single Family Residential
2 beds1 baths672 sq.ft.
CAP RATE
Trad. 6.07%Airbnb 7.86%
Investment Properties for Sale
$304,900
MLS 219041133
1140 Trentwood Road
Columbus, OH 43221
Cranbrook
Single Family Residential
3 beds2 baths2,106 sq.ft.
CAP RATE
Trad. 0.76%Airbnb 7.84%
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
Columbus Airbnb
$91 per night
Entire home/apt · 1 bed
Short North Carriage House
409
Columbus Airbnb
$63 per night
Columbus Airbnb
$70 per night
Columbus Airbnb
$112 per night
Entire home/apt · 3 beds
Short North - Italianate Cottage
324
Columbus, OH Homes for Rent
Investment Properties for Sale
$1,100
MLS 219042712
1824 E Rich Street
Columbus, OH
Franklin Park
Single Family
4 beds1 baths1,708 sq.ft.
Investment Properties for Sale
$1,750
MLS 219041831
Investment Properties for Sale
$900
MLS 219041839
3623 Walmar Drive
Columbus, OH
North Linden
Single Family
3 beds1 baths800 sq.ft.
Investment Properties for Sale
$1,045
MLS 219041829
1397 Broadview Avenue #5
Columbus, OH
Tri-Village
Apartment
1 beds1 baths552 sq.ft.
Columbus, OH Open Houses
Investment Properties for Sale
Open 1 PM to 3 PM
$254,900
MLS 219042684
945 Heyl Avenue
Columbus, OH 43206
Southern Orchards
Single Family Residential
4 beds2 baths1,356 sq.ft.
CAP RATE
Trad. 2.70%Airbnb 6.26%
Investment Properties for Sale
Open 2 AM to 4 PM
$350,000
MLS 219042778
503 E Kossuth Street
Columbus, OH 43206
Schumacher Place
Single Family Residential
3 beds2 baths1,226 sq.ft.
CAP RATE
Trad. 1.24%Airbnb 2.62%
Investment Properties for Sale
Open 1 PM to 4 PM
$139,900
MLS 219042615
2312 Pinzon Place #103
Columbus, OH 43235
Brookside Woods
Condo/Coop
2 beds2 baths1,093 sq.ft.
CAP RATE
Trad. 0.36%Airbnb 0.84%
Investment Properties for Sale
Open 12 PM to 5 PM
$209,990
MLS 4149199
1006B S/L Jackson Park Place Dr Northwest
Columbus, OH 44718
Downtown
Condo/Coop
3 beds2 baths1,407 sq.ft.
CAP RATE
Trad. 5.60%Airbnb 5.46%
Best Columbus Neighborhoods for Buying Investment Property
69%
Mashmeter
property price
$480,000
Median
cap rate
3.63%
Traditional
7.19%
Airbnb
rental income
$1,453
Traditional
$2,877
Airbnb
homes for sale
4
occupancy rate
59%
Airbnb
67%
Mashmeter
property price
$286,400
Median
cap rate
6.51%
Traditional
12.20%
Airbnb
rental income
$1,553
Traditional
$2,911
Airbnb
homes for sale
6
occupancy rate
60%
Airbnb
70%
Mashmeter
property price
$425,000
Median
cap rate
5.74%
Traditional
6.68%
Airbnb
rental income
$2,033
Traditional
$2,367
Airbnb
homes for sale
7
occupancy rate
60%
Airbnb
69%
Mashmeter
property price
$429,900
Median
cap rate
5.19%
Traditional
6.79%
Airbnb
rental income
$1,861
Traditional
$2,433
Airbnb
homes for sale
17
occupancy rate
60%
Airbnb
70%
Mashmeter
property price
$357,900
Median
cap rate
5.45%
Traditional
7.65%
Airbnb
rental income
$1,625
Traditional
$2,283
Airbnb
homes for sale
2
occupancy rate
58%
Airbnb
All Columbus Neighborhoods