2020 Housing Market Overview
Columbus Real Estate Market 2020
PLEASE NOTE: The information on this page was gathered before the Coronavirus impact. Things are changing on an hourly basis, and we are working to update our data and keep it current. In the meantime, please do not rely on the information on this page to be current.
Columbus Real Estate Market Overview
Metro Population: 2.1 M
Median Household Income:$79,694
Median Home Price*:$183,000
Median Monthly Rent*:$1,310
Interested in investing in the Columbus real estate market in 2020? On this page you’ll learn about housing market trends and statistics to help you make that decision.
Columbus is the capital of Ohio, the county seat of Franklin County, and the largest city in the state. In recent years, it has emerged as one of the nation’s most technologically sophisticated cities. It is home to the Batelle Memorial Institute, the world’s largest private research and development foundation, and Ohio State University, the nation’s third-largest university campus.
Columbus Housing Market Trends
Columbus Real Estate Market Trends & Statistics 2020In this section, you’ll learn about the top factors that make Columbus one of the strongest real estate markets of 2020, including: affordability, rental income, cash flow, and equity growth potential. Explore Columbus’ housing market, population, and employment trends in the tabs above to learn more.
Columbus property values are more affordable than other U.S. real estate markets today.
- In 2019, the median price of three bedroom homes in Columbus was $183,000. This is 18% lower than the national average of $222,000.
- The median price of three bedroom homes, in the neighborhoods where RealWealth members invest, is only $108,000. This is 51% less than the average three bedroom home nationwide.
- This shows us that real estate in Columbus is uniquely affordable, especially in the neighborhoods where RealWealth members are investing.
It is possible to generate passive monthly income in Columbus.
- In 2019, the median monthly rent for three bedroom homes in the Columbus metro area was over $1,316, which is 0.72% of the purchase price of $183,000.
- In the neighborhoods where RealWealth members invest, the median monthly rent of R.E.A.L. Income Properties™ is $975, which is 0.90% of the average purchase price of $108,000.
- This shows us that there’s a strong opportunity to generate passive monthly income in Columbus at a higher price-to-rent ratio than the national average.
Columbus property values have been rising consistently over the last several years.
- In 2012, the median price of three bedroom homes in the Columbus metro area was $121,000. In the past seven years (2012 to 2019), three bedroom homes in Columbus have appreciated by over 51%. During the same period, three bedroom homes increased by 55% nationwide.
- Although the median price of three bedroom homes in Columbus has appreciated less than the national average, it has been rising consistently every year. Over the past seven years, the annual growth rate has been 8.6% which is just under the national average of 9.2%.
- This shows us that Columbus offers an opportunity for equity growth over the long term; this is also a good indication that the Columbus real estate market is more stable than other U.S. markets.
Rents in Columbus Have Risen at a Faster Rate than the National Average
- In 2012, the median rent for three bedroom homes in the Columbus metro area was $1,115. Over the past seven years, rents have risen by 17%. During the same period, rents for three bedroom homes nationwide rose by 37%.
- This shows us that Columbus offers investors some rental income opportunity.
People are Moving to Columbus at a Much Faster Rate than Many Other U.S. Cities
- Since 2010, more than 200,000 people have moved to the Columbus metro area. This is over a 10% increase in population, which is considerably higher than the 5% national average.
- This is significant because population growth creates an increased demand for housing, which drives up property values and rents. These are good signs for Columbus investment property owners.
Columbus is creating jobs at a steady rate.
- Between 2018 and 2019, Columbus created over 9,300 jobs – a growth rate of 0.84%. This is lower than the national average of 1.47% during this period.
- Although Columbus’ job growth isn’t staggering, it’s still a promising sign for real estate investors because jobs attract people and people always need a place to live.
Columbus’ Population is Growing Rapidly
- Since 2010, Columbus’ population has increased 82% faster than the national average.
Columbus is Affordable
- In the Columbus neighborhoods where RealWealth members invest, the median price of 3 bedroom homes is 51% lower than the national average.
Columbus is Cash Flowing
- In the Columbus neighborhoods where RealWealth members invest, the median monthly rent of 3 bedroom homes is 0.90% of the purchase price, which is 20% higher than the national average.
Columbus Home Values & Rents are Rising
- Since 2012, 3 bedroom homes in Columbus have appreciated by 51% compared to 55% nationally. During the same period, rents appreciated by 17% compared to 37% nationally.
- While homes in Columbus are appreciating at a slightly slower rate than the national average, they are still rising.
Columbus is Creating Jobs
- In the past year, the number of jobs in Columbus created over 9,300 jobs – a growth rate of 0.84%.
- Although this is lower than the 1.47% national average, it’s still a promising sign for investors.
Major Employers in Columbus
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