Columbus Real Estate Market Analysis

Houses for Sale in Columbus

Discover 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 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

Best Short Term Rental Markets

Find great vacation rentals for sale in the top performing markets

Short Term Rentals For Sale

Calculate annual revenue, ADR, & occupancy rates with our free Airbnb calculator

Short Term Rental Calculator

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

Find Investment Properties

$209,900

MLS 223032223

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%

$234,900

MLS 223031727

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%

$425,000

MLS 223031609

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%

$199,900

MLS 223031789

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

Find Investment Properties

$189,999

MLS 223027215

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%

$109,900

MLS 223029310

2299 Woodbrook Circle N #327
Columbus, OH 43223 Brookshire

Condo/Coop

2 beds2 baths960 sq.ft.

CAP RATE

Trad. 3.49%Airbnb 7.99%

$204,900

MLS 223032009

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%

$169,900

MLS 223031182

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

Find Investment Properties

$204,900

MLS 223020876

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

$324,990

MLS 223014047

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%

$159,900

MLS 223009758

3269 Donalda Court
Columbus, OH 43231 Northern Woods

Condo/Coop

2 beds2 baths1,412 sq.ft.

CAP RATE

Trad. 3.69%Airbnb 5.70%

$176,000

MLS 223014947

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

Find Investment Properties

$160,000

MLS 223030220

2948 Medina Avenue
Columbus, OH 43224 North Linden

Multi Family

0 beds0 baths1,564 sq.ft.

CAP RATE

Trad. 7.39%Airbnb N/A

$199,900

MLS 223027086

1976 Sullivant Avenue
Columbus, OH 43223 Central Hilltop

Multi Family

0 beds0 baths2,640 sq.ft.

CAP RATE

Trad. 7.32%Airbnb N/A

$314,900

MLS 223031322

1900 Hamilton Avenue
Columbus, OH 43211 South Linden

Multi Family

0 beds0 baths2,400 sq.ft.

CAP RATE

Trad. 7.16%Airbnb N/A

$195,000

MLS 223031946

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

Find Investment Properties

$189,999

MLS 223027215

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%

$109,900

MLS 223029310

2299 Woodbrook Circle N #327
Columbus, OH 43223 Brookshire

Condo/Coop

2 beds2 baths960 sq.ft.

CAP RATE

Trad. 3.49%Airbnb 7.99%

$204,900

MLS 223032009

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%

$169,900

MLS 223031182

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.