Columbus Housing Market: Trends & Prices

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    Columbus Real Estate Market Overview

    (Last Updated – 10/2020)

    The beautiful city of Columbus often takes on a scarlet and gray tint thanks to some very loyal football fans. Columbus residents have a fierce loyalty for the Ohio State Buckeyes and it isn’t uncommon to see their favorite team’s colors adorning the streets.

    While sports are beloved in Columbus, the city is also teeming with culture, music, theater, and art. Ohio State University and many local businesses attract an energetic workforce and can be very alluring to millennials.

    A fair cost of living is also a draw for many Columbus residents. Compared to other large metro areas, the cost of living in Columbus is relatively low.

    Columbus is a diverse city and is appealing to younger demographics as there are many family-friendly suburbs to enjoy. Keep reading to learn more about the Columbus real estate market, housing costs, and the benefits of living in some of Columbus’ most popular neighborhoods.

    $214,000

    Avg. Home Price

    $134

    Avg. Price Per Sq. Ft

    38 days

    Avg. Time on Market

    Columbus Housing Market Forecast

    For those wondering what the Columbus real estate market might look like in a few months, Zillow anticipates that the median home price in Columbus Ohio could fall by 0.6% within the next year.

    This drop would likely be appreciated by home hunters as home values rose by 8.4% over the past year.

    Housing market forecast chart

    *Graph taken from Zillow as of 09/2020

    Demographics of the Columbus Market

    As previously mentioned, it’s clear that Columbus has a lot to offer. From museums, to football stadiums, to career opportunities, to family-friendly neighborhoods, Columbus clearly has it all.

    Before settling on a specific neighborhood to buy a home in, let’s look at the overall demographics of the Columbus housing market that can affect residents, no matter where they decide to live.

    Median Income: $52,971

    Median Age: 32.3

    College Educated: 36%

    Homeowners: 45.1%

    Married: 38%

    Short North

    The Short North neighborhood is considered to be a pioneer in the urban revitalization of Central Ohio. This vibrant neighborhood leans into artistic pursuits, including home decor and fashion alongside more traditional art forms.

    Today this neighborhood is a vibrant sector of art and culture, which may appeal to those looking for a less suburban feel. With over 300 businesses in this area, there are plenty of exciting job opportunities to be discovered as well.

    Quick Facts

    Population:

    1,721

    Median Age:

    27

    Housing Units:

    850

    Bike Score:

    91

    Walk Score:

    92

    Transit Score:

    63

    Average Household Income:

    $73,382

    Short North Housing Market

    The housing prices in Short North are red hot at the moment! In the past year alone, housing prices rose by 50.7% in this area.

    Short North houses generally stay on the market for around 43 days and sell for about 4% below their list price.


    Average Home Price

    $407,000

    Average Price Per Sqare Ft.

    $251


    German Village

    A quick trip over a highway bridge is all it takes for German Village residents to hop on over to downtown Columbus. This is an ideal arrangement for residents who enjoy the historic charm of German Village, but want to work amongst the modern hustle and bustle of downtown.

    Architecture lovers will appreciate that the structures and sidewalks are crafted of orange masonry and about half the streets are still made of brick pavers.

    Quick Facts

    Population:

    2,612

    Median Age:

    32

    Housing Units:

    1,449

    Bike Score:

    70

    Walk Score:

    90

    Transit Score:

    61

    Average Household Income:

    $78,545

    German Village Housing Market

    This neighborhood’s real estate market isn’t super competitive, but homes for sale do occasionally receive multiple offers.

    German Village homes typically sell for about 0.9% below their list price and sell in around 51 days.


    Average Home Price

    $395,000

    Average Price Per Square Ft.

    $289


    Downtown

    Downtown Columbus is particularly charming thanks to its tree-lined streets, panoramic penthouses, and traditional townhomes.

    Living in Downtown is a blast thanks to how easy it is to walk to great shops, restaurants, and attractions. For those who want to avoid suburban life, Downtown may just be the right fit.

    Quick Facts

    Population:

    14,960

    Median Age:

    27

    Housing Units:

    8,547

    Bike Score:

    81

    Walk Score:

    81

    Transit Score:

    69

    Average Household Income:

    $78,515

    Downtown Housing Market

    The Downtown real estate market can be competitive at times, with some homes for sale receiving multiple offers.

    Homes in this area sell for about 2.9% below their list price, but can take a while to sell (on average 69 days).


    Average Home Price

    $236,000

    Average Price Per Square Ft.

    $258


    University District

    The University District is a massive neighborhood that encompasses 13 smaller neighborhoods that surround one of the nation’s largest public universities, The Ohio State University. Hence this area’s collegiate name.

    This bold and exciting area offers an eclectic mix of living options for students, working professionals, and families alike.

    Quick Facts

    Population:

    34,632

    Median Age:

    22.8

    Housing Units:

    11,133

    Bike Score:

    85

    Walk Score:

    84

    Transit Score:

    56

    Average Household Income:

    $46,237

    University District Housing Market

    The University District housing market is considered to be very competitive, with many homes for sale receiving multiple offers.

    On average homes in this area sell for about 1.6% above their list price and sell in around 42 days, but more popular homes can sell for about 5% above their list price and can sell in just around 21 days.


    Average Home Price

    $340,000

    Average Price Per Square Ft.

    $206


    Franklin Park

    The residents of Franklin Park like to say that they “turn visitors into neighbors and neighbors into friends!”. This friendly neighborhood is conveniently located near the center of Columbus and has easy access to freeways and public transit.

    Locals enjoy strolling through the Bryden Road Historic District in the Franklin Park neighborhood and taking in the charming architecture.

    Quick Facts

    Population:

    12,725

    Median Age:

    33.7

    Housing Units:

    7,480

    Bike Score:

    70

    Walk Score:

    57

    Transit Score:

    45

    Average Household Income:

    $52,470

    Franklin Park Housing Market

    In the somewhat competitive real estate market of Franklin Park, it isn’t unusual for some homes that are for sale to receive multiple offers.

    Homes in this area typically sell for about 3.4% below their list price and generally sell in around 63.5 days.


    Average Home Price

    $380,000

    Average Price Per Square Ft.

    $183



    SoFi Home Loans

    It’s easy to see why Columbus has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.

    If you think Columbus could be your home sweet home, then you may need to consider your home loan options.

    If you’re buying a home or refinancing an existing mortgage, SoFi can help you make the process as quick and painless as possible.

    Learn more


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