Understanding real estate market trends isn’t just for investors. Whether you’re planning to move or are looking to buy new Columbus property in your area, knowing the current market conditions is necessary for making smart decisions. You don’t want to be underselling your property; similarly, you don’t want to be overpaying for your new Columbus home or rental space.
Columbus, OH is a real estate market to watch. Industry forecasts show that Columbus has one of the most competitive housing markets this year. Reputable real estate investors are now saying “We buy houses in Columbus Ohio,” which is great news for city residents planning to make a move (as well as individuals looking to come in).
To help you understand current market conditions, we’ll discuss some of the biggest Columbus, OH real estate trends in 2022. In particular, this article will touch on the following market factors:
- Population
- Job opportunities
- Rental statistics
- Standard of living
The Population Growth of Columbus
The city’s population plays a big role in determining Columbus OH real estate trends in Q2 2022.
To start, the wider Columbus metro area is home to about 2.1 million people, while the city of Columbus itself houses over 900,000 residents. This second number is higher than the total population of San Francisco, which shows you just how much growth the city is undergoing.
It is also worth looking at the particular demographics of the city’s residents. Millennials have become key players in the housing market, with many of them looking to be first-time homeowners. All in all, the demand for housing in Columbus is quite strong.
Job opportunities in Columbus
Five Fortune 500 companies are headquartered in Columbus, such as Cardinal Health and Nationwide. The city’s strong business environment also means that lots of start-ups are considering moving to Columbus, too.
Furthermore, Columbus is steadily growing its reputation as a tech city to watch out for. The fact that this reputation is still growing means that there are lots of companies looking to fill their offices—and many are willing to pay competitive salaries to do so. As such, the city can expect even more highly-qualified individuals moving in.
Affordable rental prices
As the Columbus job market grows, so too will the rental market. Thanks to relatively affordable rental prices, around half of residents in the metro area prefer to rent a space instead of own a property.
The continued popularity of renting as a one of the Columbus OH real estate trends also means there is ample opportunity for those to enter the housing market. This is coupled with the fact that Columbus is less dense than other major cities, making it extremely attractive for prospective homeowners and real estate investors alike.
Standard of living
With lots of job opportunities against a competitively affordable housing market, it’s no surprise that the quality of life in Columbus is quite high. The city boasts one of the lowest costs of living in the country, approximately 5% lower than the national average.
While there are lots of great shopping centers and cultural places to visit, Columbus is also making great strides to develop its natural landscape. The city government is heavily investing in more bike and fitness trails, as well as a massive riverfront park restoration project.
Be Smart About Selling Your Columbus Property
Whether you’re planning to move to a new location or are looking to increase your savings, now is the best time to sell your Columbus property.
At Offer Express, we buy homes in Columbus Ohio for fair cash prices. What’s more, the fact that we pay in cash means that each transaction is fast and secure. We believe that you should be getting your money’s worth for your own house.
Once your Columbus property is in our hands, you can be rest assured that we’ll take care of all the necessary cleanup. We’ll buy any house in as-is condition, which means that you also don’t have to worry about scheduling any prior repairs and restorations.
If you’re interested in selling your property, we’ll be happy to guide you through our buying process. Call the Offer Express team today at (614) 820-5777.