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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 Realtors and Real Estate Agents

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Columbus  Real Estate Investment Performance
Facts and Market Trends in Columbus
Homes For Sale776
Airbnb Properties845
Rental Properties1,781
Traditional Vacancy rate4.60%
Airbnb Occupancy Rate57.30%
Mashmeter55.12%
Median Price$225,000
Median Rent Price$1,311
Price/sqft$170
Median Days on Market50
Price to Rent Ratio19.1
Average Cap Rate
Airbnb3.75%
Traditional2.71%
Average Rental Income
Airbnb$1,861
Traditional$1,230
 
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$1,255$1,137$1,679$2,151$3,208
Traditional$756$871$999$1,305$1,535
Columbus, OH - Homes for Sale - Newly Listed
$174,900
MLS 221010746
241 Bollingen Road
Columbus, OH 43004
East Broad
Condo/Coop
2 beds4 baths1,641 sq.ft.
CAP RATE
Trad. 1.62%Airbnb -0.19%
$179,900
MLS 221011227
620 E Gates Street
Columbus, OH 43206
South Side CAN
Single Family Residential
2 beds1 baths792 sq.ft.
CAP RATE
Trad. 1.11%Airbnb 3.69%
$200,000
MLS 221011247
1455 Atcheson Street
Columbus, OH 43203
Woodland Park
Single Family Residential
3 beds1 baths1,050 sq.ft.
CAP RATE
Trad. 5.76%Airbnb 6.50%
$160,000
MLS 221011170
2795 Raphael Drive
Columbus, OH 43232
Walnut Heights
Single Family Residential
3 beds2 baths1,132 sq.ft.
CAP RATE
Trad. 3.16%Airbnb 6.31%
Top Performing Columbus Properties
$148,900
MLS 221008030
3033 Weirton Drive
Columbus, OH 43207
Marion Franklin
Single Family Residential
3 beds1 baths864 sq.ft.
CAP RATE
Trad. 5.37%Airbnb 7.99%
$240,000
MLS 221007608
4048 Brookrun Drive
Columbus, OH 43204
Brookhollow
Single Family Residential
3 beds3 baths1,520 sq.ft.
CAP RATE
Trad. 2.64%Airbnb 7.99%
$58,750
MLS 221010970
1275 Sigsbee Avenue
Columbus, OH 43219
Amercrest
Single Family Residential
3 beds1 baths986 sq.ft.
CAP RATE
Trad. 4.86%Airbnb 7.88%
$154,000
MLS
5229 CHERRY CREEK PKWY S
Columbus, OH 43228
Cherry Creek
Single Family Residential
3 beds1 baths856 sq.ft.
CAP RATE
Trad. 5.51%Airbnb 7.80%
Recently Sold Homes in Columbus, OH
$159,900
MLS 221011136
4886-4888 Beacon Hill Road
Columbus, OH 43228
Westside 2
Multi Family
0 beds0 baths1,682 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$249,900
MLS 221009186
751 Kingsford Road
Columbus, OH 43204
Holly Hill
Multi Family
0 beds0 baths3,456 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$134,900
MLS 221011124
771-773 Derrer Road
Columbus, OH 43204
Holly Hill
Multi Family
0 beds0 baths1,667 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
$139,900
MLS 221006219
1928-1930 Vaughn Street
Columbus, OH 43223
South Hilltop
Multi Family
0 beds0 baths1,838 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
$144,900
MLS 220042828
2741-2743 Steele Avenue
Columbus, OH 43204
North Hilltop
Multi Family
0 beds0 baths2,128 sq.ft.
CAP RATE
Trad. 6.33%Airbnb N/A
$190,000
MLS 221001900
3713-3715 Arnelle Road
Columbus, OH 43228
Holly Hill
Multi Family
0 beds0 baths1,820 sq.ft.
CAP RATE
Trad. 4.33%Airbnb N/A
$199,900
MLS 220041739
1323-1325 E 18th Avenue #27
Columbus, OH 43211
South Linden
Multi Family
0 beds0 baths2,240 sq.ft.
CAP RATE
Trad. 4.17%Airbnb N/A
$154,900
MLS 220042771
1918-1920 Frank Road
Columbus, OH 43223
Brookshire
Multi Family
0 beds0 baths1,980 sq.ft.
CAP RATE
Trad. 3.62%Airbnb N/A
Homes Below Median Price in the Columbus, OH Real Estate Market
$148,900
MLS 221008030
3033 Weirton Drive
Columbus, OH 43207
Marion Franklin
Single Family Residential
3 beds1 baths864 sq.ft.
CAP RATE
Trad. 5.37%Airbnb 7.99%
$240,000
MLS 221007608
4048 Brookrun Drive
Columbus, OH 43204
Brookhollow
Single Family Residential
3 beds3 baths1,520 sq.ft.
CAP RATE
Trad. 2.64%Airbnb 7.99%
$58,750
MLS 221010970
1275 Sigsbee Avenue
Columbus, OH 43219
Amercrest
Single Family Residential
3 beds1 baths986 sq.ft.
CAP RATE
Trad. 4.86%Airbnb 7.88%
$154,000
MLS
5229 CHERRY CREEK PKWY S
Columbus, OH 43228
Cherry Creek
Single Family Residential
3 beds1 baths856 sq.ft.
CAP RATE
Trad. 5.51%Airbnb 7.80%
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
$83 per night
Entire home/apt · 0 bed
Short North Carriage House
539
$75 per night
Entire home/apt · 2 beds
Clintonville Home
493
$99 per night
Entire home/apt · 3 beds
Short North - Italianate Cottage
431
$118 per night
Entire home/apt · 2 beds
Weinland Park / Short North Duplex
400
Columbus, OH Homes for Rent
$1,050
MLS 221011269
$1,575
MLS 221011258
$1,095
MLS 221011010
230 Macdougall Lane #54E
Columbus, OH
East Broad
Apartment
2 beds2 baths1,040 sq.ft.
$1,100
MLS 221011109
7871 Thornfield Lane #103
Columbus, OH
Foxboro
Apartment
1 beds2 baths840 sq.ft.
Columbus, OH Open Houses
Open 1 PM to 3 PM
$239,900
MLS 221010421
1810 E Main Street
Columbus, OH 43205
South of Main
Single Family Residential
4 beds2 baths1,653 sq.ft.
CAP RATE
Trad. 3.83%Airbnb 7.32%
Open 2 PM to 4 PM
$245,000
MLS 221010688
965 Stewart Avenue
Columbus, OH 43206
South Side CAN
Single Family Residential
2 beds2 baths1,038 sq.ft.
CAP RATE
Trad. 0.52%Airbnb 2.42%
Open 12 PM to 2 PM
$130,000
MLS 221010723
2568 Hiawatha Street
Columbus, OH 43211
Glen Echo
Single Family Residential
2 beds2 baths686 sq.ft.
CAP RATE
Trad. 7.64%Airbnb 6.96%
Open 2 PM to 4 PM
$650,000
MLS 221010543
959 Franklin Avenue
Columbus, OH 43205
Olde Town East
Single Family Residential
4 beds3 baths3,656 sq.ft.
CAP RATE
Trad. 0.37%Airbnb 1.58%
Best Columbus Neighborhoods for Buying Investment Property
68%
Mashmeter
property price
$449,000
Median
cap rate
4.00%
Traditional
7.77%
Airbnb
rental income
$1,497
Traditional
$2,906
Airbnb
homes for sale
5
occupancy rate
56%
Airbnb
67%
Mashmeter
property price
$469,900
Median
cap rate
3.88%
Traditional
7.51%
Airbnb
rental income
$1,520
Traditional
$2,942
Airbnb
homes for sale
9
occupancy rate
54%
Airbnb
67%
Mashmeter
property price
$452,450
Median
cap rate
4.84%
Traditional
7.91%
Airbnb
rental income
$1,823
Traditional
$2,982
Airbnb
homes for sale
10
occupancy rate
55%
Airbnb
50%
Mashmeter
property price
$269,000
Median
cap rate
4.59%
Traditional
10.21%
Airbnb
rental income
$1,029
Traditional
$2,288
Airbnb
homes for sale
3
occupancy rate
55%
Airbnb
69%
Mashmeter
property price
$300,000
Median
cap rate
6.22%
Traditional
9.56%
Airbnb
rental income
$1,556
Traditional
$2,389
Airbnb
homes for sale
7
occupancy rate
56%
Airbnb
All Columbus Neighborhoods