The Housing Market in Columbus Today
Columbus, Ohio’s housing market in 2025 is shaped by the city’s strong economy, driven by major employers in healthcare, education, and technology. The metro area’s population growth has outpaced the national average, fueling steady demand for housing. While more affordable than larger cities, Columbus has seen rising prices and lower inventory in recent years.
Compared to nearby Cleveland and Cincinnati, Columbus tends to have slightly higher housing costs but also a more robust job market. The city’s downtown revitalization and expanding suburbs have transformed the landscape. However, the market still offers relative value compared to coastal metros, attracting professionals and families.
For those considering a move to Columbus, it’s essential to understand the nuances of the local market. Factors like neighborhood popularity, commute times, and school districts can greatly impact housing prices. Working with a local real estate agent can help navigate the competitive market.
Renting in Columbus: Typical Costs and Trends
As of 2025, the average rent for a 1-bedroom apartment in Columbus is around $1,100 per month, while a 2-bedroom typically goes for $1,400. However, prices can vary significantly by location. Downtown and trendy neighborhoods like Short North and German Village tend to have higher rents, often exceeding $1,500 for a 1-bedroom. More affordable options can be found in outer suburbs and up-and-coming areas.
Columbus has a diverse renter population, including young professionals, students from The Ohio State University, and families. Many are attracted by the city’s growing job opportunities, vibrant arts and culture scene, and relatively low cost of living compared to larger metros. Proximity to downtown and easy access to highways like I-70 and I-71 are often priorities for renters.
Renters in Columbus should budget for utilities, which can add $100-300 per month depending on the season and energy usage. Renter’s insurance is also recommended and typically costs $15-30 per month. Many newer apartment complexes offer amenities like fitness centers, pools, and co-working spaces, which can add value but also increase rental costs.
Owning a Home in Columbus: Prices, Taxes, and HOA Fees
The median home price in Columbus as of 2025 is around $350,000, an increase from previous years but still lower than many major cities. However, prices can range from under $200,000 in some outlying areas to over $1 million in high-end neighborhoods. Property taxes in Franklin County, which includes Columbus, are around 1.5% of assessed value, adding several thousand dollars to annual homeownership costs.
Many newer developments in Columbus have Homeowners Associations (HOAs), which charge monthly or annual fees for maintaining common areas and amenities. HOA fees can range from under $100 to over $500 per month, depending on the community and services provided. Typical HOA amenities in Columbus include landscaping, snow removal, trash service, and neighborhood pools or playgrounds.
In addition to monthly mortgage payments, property taxes, and any HOA fees, Columbus homeowners should budget for ongoing maintenance costs. Older homes may have higher utility bills and repair needs, while newer construction often comes with a premium price. Homeowners insurance is also essential and typically costs $800-1,500 per year in Columbus.
Apartment vs House in Columbus: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,400 | $1,950 (based on $350K home price) |
| Property Tax | N/A (included in rent) | $438 (1.5% rate) |
| Utilities | $150 (lower in apartments) | $250 (more space to heat/cool) |
| Insurance | $25 (renter’s) | $100 (homeowner’s) |
| HOA Fees | N/A | $200 (typical for Columbus) |
| Maintenance & Repairs | $0 (landlord’s responsibility) | $250 (1% of home value annually) |
| Monthly Total | $1,575 | $3,188 |
Utility & Upkeep Differences
Utility costs can vary significantly between renting an apartment and owning a house in Columbus. Apartments tend to be more energy-efficient due to their smaller size and shared walls. Renters also avoid maintenance responsibilities like lawn care, appliance repairs, and plumbing issues, which fall on the landlord.
Homeowners have more control over their utility usage but often face higher bills due to larger square footage. Columbus’s climate means heating costs in winter and AC expenses in summer. Older homes may have less efficient HVAC systems and windows. Regular upkeep like painting, roof repairs, and appliance replacement should also be factored into long-term budgeting.
5-Year Rent vs Buy Outlook
Looking at the next five years, both renting and buying in Columbus are likely to become more expensive. The metro’s population growth is expected to continue, putting upward pressure on housing demand and prices. However, the rate of increase may moderate compared to the early 2020s.
For renters, annual rent hikes around 3-5% are typical in Columbus when renewing a lease. Switching to a new rental can mean even higher increases. Over five years, a $1,400 monthly rent could rise to nearly $1,700, an increase of over $10,000 in total housing costs.
Homeowners can avoid rent hikes and build equity but face a different set of rising costs. Property taxes tend to creep up annually, and HOA fees often increase to keep up with inflation and maintenance needs. Assuming modest 2% annual appreciation, a $350,000 home would be worth around $385,000 in five years. However, that gain could be offset by $10,000 or more in total repair and upkeep costs over that period.
FAQs About Housing Costs in Columbus
- How much are HOA fees in Columbus?
HOA fees in Columbus typically range from $100 to $500 per month, depending on the community amenities and services. Some neighborhoods have lower fees or no HOA at all. - What is the property tax rate in Columbus?
The property tax rate in Franklin County, which includes Columbus, is around 1.5% of assessed value as of 2025. - Is renting cheaper than buying long-term in Columbus?
Renting is often cheaper than buying on a monthly basis, but homeownership can be more cost-effective long-term. It depends on factors like home appreciation, mortgage interest rates, and how long you plan to stay in the home. - Do houses have higher utility costs than apartments?
Yes, houses typically have higher utility costs than apartments due to their larger size and detached structure. However, energy-efficient upgrades and mindful usage can help control expenses.
Making Smart Housing Choices in Columbus
Housing costs are a major factor in budgeting for life in Columbus. Whether renting or buying, it’s important to weigh your options carefully and consider both short-term and long-term expenses. In addition to monthly rent or mortgage payments, factor in “hidden” costs like utilities, insurance, and maintenance.
For a more complete picture of expenses, read our guide on the cost of living in Columbus, including housing, groceries, taxes, and more. If you’re planning a move, also check out our tips on comparing moving company costs and options.
Ultimately, the decision to rent or buy in Columbus depends on your personal circumstances, financial goals, and lifestyle preferences. By understanding the local market and budgeting realistically, you can find the right housing option for your needs.