Columbus real estate market overview
- Average Monthly Rent: $1,183
- Home Price/Value Percentage Change: 6.70%
- Median Home Value: $235,471
- Best Time To Sell a Home: July
- Affordability Index: Moderate
- Days To Sell a House: 41
- Job Market: Fair
- Public School Ranking: 34
Location and weather
Columbus is at the junction of the Scioto and Olentangy rivers in the central part of Ohio. It is the capital of Ohio and has a rich and varied history. Columbus is at the center of a metropolitan complex that includes Dublin (northwest), Gahanna and Westerville (northeast), Reynoldsburg (east), and Grove City (southwest), and several municipalities. Ohio State University, which has one of the largest enrollments of any American university, is in Columbus. There are many other colleges in the city, and it has a well-educated and diverse population.
It has cold and windy winters with lows in the 20's and below and highs in the 30's. The summers are warm and humid with temperature highs in the mid 80's and lows in the mid 60's.
Population, job market and cost of living
The population continues to grow at 1.28% last year, making Columbus one of the 15 fastest growing cities in the US with a population of 941,364.
Job growth is at -3.47% since last year. Large corporate businesses in Columbus include L Brands, The Ohio State University, Safelite Solutions, Ohio Health and Huntington National Bank. There is also a strong high-tech presence along with automotive, steel agriculture, small appliances and aerospace. The diversity of these major employers gives the city more economic stability and growth.
The cost of living is moderate due to the Columbus real estate market having moderate home prices. With a moderate cost of living, available and affordable housing, a steady job market backed by big corporate employers and Ohio State University as a cultural and education base, Ohio continues to attract those that want a northern based, diverse city with many opportunities.
Columbus real estate market details
- North Linden
- South Side
- Downtown Columbus
- New Albany
There has been a 6.7% increase in median home value over the last year. As of 2023, the median home value is $235,471.
The best time to sell a home for the highest valued sale is during July. For the quickest sale, homeowners should sell in September.
The affordability index in Columbus is 86. This number indicates moderate affordability in this city.
The top ranked public schools are Barrington Road Elementary School, Windermere Elementary School, Bexley High School, Edison Intermediate and Larson Middle School. This information is based on data measuring academic performance and equity.