Columbus, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Columbus, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Columbus Housing Market Information

With 879,170 people, 345,282 houses or apartments, and a median cost of homes of $163,981, Columbus real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Columbus, accounting for 46.50% of the city's housing units. Other types of housing that are prevalent in Columbus include large apartment complexes or high rise apartments ( 29.77%), duplexes, homes converted to apartments or other small apartment buildings ( 13.35%), and a few row houses and other attached homes ( 9.57%).

People in Columbus primarily live in small (one, two or no bedroom) single-family detached homes. Columbus has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Columbus built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Columbus built between 1940-1969 ( 28.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.83%). There's also some housing in Columbus built before 1939 ( 12.07%).

Vacant housing appears to be an issue in Columbus. Fully 10.51% of the housing stock is classified as vacant. Left unchecked, vacant Columbus homes and apartments can be a drag on the real estate market, holding Columbus real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Columbus Home Appreciation Rates

Appreciation rates for homes in Columbus have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 26.88%, which ranks in the top 30% nationwide. This equates to an annual average Columbus house appreciation rate of 2.41%.

Appreciation rates are so strong in Columbus that despite a nationwide downturn in the housing market, Columbus real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Columbus appreciation rates continue to be some of the highest in America, at 6.79%, which is higher than appreciation rates in 73.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Columbus. Columbus appreciation rates in the latest quarter were at 0.71%, which equates to an annual appreciation rate of 2.85%.

Relative to Ohio, our data show that Columbus's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Columbus differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Columbus - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Columbus real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$163,981

Columbus, OH HOME PRICES

Value Range
> $1,276,000 0.2
$957,001 - $1,276,000 0.3
$638,001 - $957,000 1.1
$510,001 - $638,000 1.3
$383,001 - $510,000 4.1
$255,001 - $383,000 15.5
$128,001 - $255,000 46.7
$64,001 - $128,000 23.8
$0 - $64,000 6.8

High for OH
Average for Nation

Value Relative to Nation Value Relative to State
50.7386861313869 38.1889763779528

Number Of Homes And Apartments:
345,282

Columbus Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
45.06% 1.95%
9
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,151 / per month

Homeownership Rate

Homeownership
Owners 43.84
Renters 56.16
Vacant 10.51

Housing Market Details

 

Age of Homes

AGE OF Columbus HOMES
2000 or Newer 15.8
1970 - 1999 43.7
1940 - 1969 28.4
1939 or Older 12.1

Types of Homes

TYPE OF Columbus HOMES
Single-Family 46.5
Townhomes 9.6
Small Apt. Buildings 13.3
Apt. Complexes 29.8
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Columbus HOMES
No Bedroom 2.03
1 Bedroom 14.41
2 Bedrooms 36.13
3 Bedrooms 35.18
4 Bedrooms 10.86
5 or more bedrooms 1.39