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Columbus, Ohio, is one of the hottest real estate markets in the country, thanks to its strong economy, diverse population, and affordable housing. The capital city of Ohio is home to over 2 million people, making it the 14th largest city in the U.S. and the second-largest in the Midwest. Columbus is also a hub for education, technology, healthcare, and entertainment, attracting talent and investment from across the nation and the world.
If you are looking for investment opportunities in Columbus, you have plenty of options to choose from. The city offers a variety of neighborhoods, each with its own character, amenities, and potential. Whether you are looking for cash flow, appreciation, or both, you can find a neighborhood that suits your goals and budget.
In this blog post, we will highlight some of the best neighborhoods to invest in Columbus, based on the latest market trends and data. We will also provide some tips and resources to help you make the most of your investment in this booming market.
Downtown Columbus
Downtown Columbus is the heart of the city, where you can find a mix of commercial and residential properties, as well as cultural and entertainment venues. Downtown Columbus is undergoing a major transformation, with new developments, renovations, and infrastructure projects adding value and vibrancy to the area. Some of the notable projects include the Scioto Mile, a riverfront park and trail system; the Columbus Commons, a 9-acre green space and event venue; and the North Market Tower, a 26-story mixed-use building.
Downtown Columbus offers a range of investment opportunities, from condos and lofts to townhomes and single-family homes. The median sale price of a home in Downtown Columbus was $375,000 in December 2023, up 15.4% since last year. The median rent price was $1,500, up 7.1% since last year. The average occupancy rate was 94.6%, up 1.4% since last year.
Downtown Columbus is ideal for investors who are looking for appreciation, as well as cash flow from short-term rentals. The area attracts a lot of tourists, business travelers, and young professionals who are looking for convenience, amenities, and nightlife. Downtown Columbus is also close to major employers, such as Nationwide, Huntington, and AEP, as well as educational institutions, such as Ohio State University and Columbus State Community College.
German Village
German Village is a historic neighborhood with charming brick houses and cobblestone streets. The neighborhood was settled by German immigrants in the 19th century and is now listed on the National Register of Historic Places. German Village is known for its quaint shops, cafes, and restaurants, as well as its annual events, such as the Haus und Garten Tour and the Oktoberfest.
German Village offers a unique investment opportunity, as it is one of the most sought-after and expensive neighborhoods in Columbus. The median sale price of a home in German Village was $525,000 in December 2023, up 10.5% since last year. The median rent price was $1,800, up 5.9% since last year. The average occupancy rate was 95.8%, up 0.8% since last year.
German Village is ideal for investors who are looking for appreciation, as well as cash flow from long-term rentals. The area attracts a lot of families, couples, and retirees who are looking for a quiet, historic, and walkable neighborhood. German Village is also close to downtown, the Brewery District, and Schiller Park, offering easy access to work and recreation.
Short North
Short North is a trendy and artsy neighborhood that stretches along High Street, north of downtown. The neighborhood is known for its eclectic mix of galleries, boutiques, bars, and restaurants, as well as its monthly Gallery Hop, a popular event that showcases local art and culture. Short North is also home to the North Market, a historic public market that features local vendors and cuisines.
Short North offers a diverse investment opportunity, as it is one of the most vibrant and dynamic neighborhoods in Columbus. The median sale price of a home in Short North was $450,000 in December 2023, up 12.5% since last year. The median rent price was $1,700, up 6.3% since last year. The average occupancy rate was 96.2%, up 1.1% since last year.
Short North is ideal for investors who are looking for appreciation, as well as cash flow from short-term and long-term rentals. The area attracts a lot of young professionals, artists, and students who are looking for a lively, creative, and diverse neighborhood. Short North is also close to downtown, the Ohio State University, and the Arena District, offering a lot of opportunities for work and entertainment.
Clintonville
Clintonville is a cozy and family-friendly neighborhood that lies north of the University District. The neighborhood is known for its natural beauty, with ravines, parks, and bike trails. Clintonville is also known for its local businesses, such as the Clintonville Farmers’ Market, the Studio 35 Cinema and Drafthouse, and the Whetstone Library.
Clintonville offers a stable investment opportunity, as it is one of the most established and affordable neighborhoods in Columbus. The median sale price of a home in Clintonville was $325,000 in December 2023, up 8.3% since last year. The median rent price was $1,400, up 7.7% since last year. The average occupancy rate was 95.4%, up 0.9% since last year.
Clintonville is ideal for investors who are looking for appreciation, as well as cash flow from long-term rentals. The area attracts a lot of families, teachers, and professionals who are looking for a quiet, green, and friendly neighborhood. Clintonville is also close to the Ohio State University, the Olentangy River, and the Graceland Shopping Center, offering convenience and variety.
University District
University District is a large and diverse neighborhood that surrounds the Ohio State University, the largest public university in the state. The neighborhood is known for its academic, athletic, and cultural activities, as well as its nightlife and entertainment options. University District is also home to the Wexner Center for the Arts, the Ohio Stadium, and the Ohio Union.
University District offers a lucrative investment opportunity, as it is one of the most in-demand and high-growth neighborhoods in Columbus. The median sale price of a home in University District was $375,000 in December 2023, up 15.4% since last year. The median rent price was $1,600, up 6.7% since last year. The average occupancy rate was 97.6%, up 1.3% since last year.
University District is ideal for investors who are looking for appreciation, as well as cash flow from short-term and long-term rentals. The area attracts a lot of students, faculty, staff, and alumni who are looking for a convenient, vibrant, and diverse neighborhood. University District is also close to downtown, the Short North, and the Olentangy River, offering a lot of opportunities for work and recreation.
Final Thoughts: Best Places to Invest in Columbus
Columbus, Ohio, is a great place to invest in real estate, as it offers a strong economy, a diverse population, and an affordable housing market. The city has a variety of neighborhoods, each with its own character, amenities, and potential. Whether you are looking for cash flow, appreciation, or both, you can find a neighborhood that suits your goals and budget.
However, investing in real estate is not a simple or easy task. It requires a lot of research, analysis, and due diligence. You need to understand the market trends, the neighborhood dynamics, and the property specifics. You also need to have a clear strategy, a realistic budget, and a reliable team.
If you need help with finding and managing your investment properties in Columbus, you can contact us at Evernest. We are a full-service property management company that specializes in single-family homes. We have the local knowledge, the professional expertise, and the proven systems to help you succeed in your real estate journey. We can help you with:
- Finding the best deals and opportunities in the Columbus market
- Evaluating the properties and performing the inspections
- Negotiating the contracts and closing the deals
- Marketing the properties and screening the tenants
- Collecting the rents and handling the maintenance
- Keeping the records and providing the reports
- And much more!
Ready to Learn More?
If you are interested in investing in Columbus, Ohio, or if you have any questions or comments, please feel free to contact us today. We would love to hear from you and help you achieve your real estate goals.