Real Estate

πŸ’Έ Cheap rent with a catch in Columbus

A Landing apartment in Columbus. Photo: Courtesy of Landing

Picture a fully furnished Columbus apartment for $1,295 per month β€” with no lease, no security deposit and all utilities included. Sound too good to be true?

  • It is, because there's one catch: You might have to move with just three days' notice.

Columbus home market cooling, but still above pre-COVID levels

Data: Redfin; Chart: Axios Visuals

Hoping to buy a home in 2023? This might be the time to jump into the fray.

What's happening: The Columbus region's housing market has moderated a little bit from the craziness of the past two years, though it's still nowhere near a return to pre-pandemic levels.

πŸ’Έ The rent is (still) too damn high

Data: Moody's Analytics; Table: Kavya Beheraj/Axios

In the fourth quarter of 2022, the average asking rent in the Columbus metro area was $1,135 β€” up 9.1% from a year earlier.

Why it matters: Affordability concerns are starting to weigh down the booming rental market.

Here's what experts say 2023 holds for Columbus real estate

Illustration of the year 2022, with a keyhole for a zero, which zooms in so you can see through the keyhole to the year 2023.

Illustration: Brendan Lynch/Axios

The Columbus housing market shows no sign of a crash in 2023.

  • Here's what experts say to expect instead:

Columbus renters can't afford starter homes

Data: Point2Homes;Β Map: Tory Lysik/Axios Visuals

Columbus renters earned 80% of the income they would need to afford a starter home in October 2022.

  • An analysis by real estate website Point2Homes considered "starter homes" properties valued in the lower one-third of all available homes for sale.

Explore how home prices have changed in central Ohio

Note: "Typical" refers to the average home value in the middle 30% of estimated home values in a region; Data: Zillow; Map: Erin Davis/Axios Visuals

Home prices across the central Ohio region rose between July and October, per an Axios analysis of Zillow data.

Why it matters: As if you needed another reminder, the interactive map shows it is increasingly expensive to be a homebuyer in the Columbus metro area.

Buy this mansion and the governor could be your neighbor

The facade of a Spanish Revival mansion.

The Spanish revival mansion in Bexley. Photos courtesy of New Albany Realty

Now here's a home that will make you wish you'd chosen better Powerball numbers.

Up for sale: A 12,861-square-foot historic mansion on Parkview Avenue in Bexley.

Buying a house in Columbus is easier β€” but not cheaper

Data: Zillow; Chart: Erin Davis/Axios Visuals

The Columbus metro area's real estate market is starting to level off.

Why it matters: After two-plus years of plummeting inventory and sky-high home prices, local buyers have waited a long time for a little relief.


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