The Housing Market in Westerville Today
Westerville’s housing market in 2025 is shaped by its proximity to Columbus, strong school system, and growing population. As a desirable suburb, Westerville has seen steady demand for both rental and owner-occupied housing in recent years. While prices have risen, they remain more affordable than some neighboring communities like New Albany or Dublin.
Several factors are driving Westerville’s housing market today. Major employers like JPMorgan Chase and Mount Carmel St. Ann’s hospital provide a stable job base. Westerville’s historic Uptown district and Otterbein University add to the city’s appeal. Development has expanded along the I-270 corridor, with new subdivisions and apartment complexes accommodating the influx of residents.
Compared to the broader Columbus metro area, Westerville offers a balance of amenities, good schools, and relatively affordable housing. While prices are higher than further-out suburbs, Westerville remains popular with families and professionals who value its location and community feel. Understanding the nuances of Westerville’s market is key for renters and buyers looking to balance costs and lifestyle.
Renting in Westerville: Typical Costs and Trends
As of 2025, renters can expect to pay around $1,100 to $1,400 per month for a typical 1-bedroom apartment in Westerville. Prices for 2-bedroom units average $1,400 to $1,700. Newer luxury complexes with amenities command higher rents. Older units and those further from I-270 may offer relative bargains.
Westerville attracts a mix of renters, from young professionals to downsizing retirees. Apartments near Otterbein University are popular with students. The Uptown area appeals to those seeking walkability. Renters prioritizing space or affordability often look to subdivisions in Westerville’s north or west sides.
Commute times and highway access play a role in Westerville’s rental market. Proximity to I-270 or Route 3 is desirable for those traveling to downtown Columbus or nearby job centers. Neighborhoods near COTA bus lines may also fetch higher rents. Overall, Westerville offers a variety of rental options across different budgets and lifestyles.
Owning a Home in Westerville: Prices, Taxes, and HOA Fees
The median home price in Westerville sits around $350,000 as of 2025. However, actual prices vary considerably by neighborhood and property type. Older homes in established areas like Huber Village or Annehurst may be found in the $250,000 to $350,000 range. Newer construction further out can reach $500,000 or more.
Property taxes are another important consideration for Westerville homeowners. The city’s effective property tax rate is around 2.0%, slightly higher than the Franklin County average. On a $350,000 home, that equates to approximately $7,000 in annual property taxes.
Many of Westerville’s newer subdivisions have active HOAs. Monthly HOA fees typically range from $100 to $300, depending on provided amenities and services. In Westerville, these fees often cover neighborhood landscaping, trash removal, and in some cases, facilities like pools or playgrounds. While HOAs are common, not all Westerville neighborhoods have them.
Apartment vs House in Westerville: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,550 | $1,900 |
| Property Tax | N/A (included in rent) | $585 |
| Utilities | $150 | $250 |
| Insurance | $15 (renters) | $100 (homeowners) |
| HOA Fees | N/A | $150 |
| Maintenance & Repairs | $0 | $200 |
| Monthly Total | $1,715 | $3,185 |
As this comparison illustrates, renting is often cheaper on a monthly basis in Westerville. However, the long-term costs and benefits depend on individual factors like home appreciation and tax deductions.
Utility & Upkeep Differences
Utility costs are a key difference between renting and owning in Westerville. Apartments typically have lower utility bills due to smaller square footage and greater efficiency. Renters also avoid maintenance and repair costs that can add up quickly for homeowners.
Westerville’s climate means heating costs in winter and AC expenses in summer. Older homes may have higher utility bills if they lack updated HVAC systems or insulation. Homeowners should budget for occasional repairs to plumbing, roofing, and appliances, which apartments cover in rent.
5-Year Rent vs Buy Outlook
Looking ahead five years, both renting and buying in Westerville have pros and cons. Rents are likely to rise steadily, in the range of 3-5% annually. That could mean paying $200 to $300 more per month by 2030. However, renters maintain flexibility and avoid repair costs.
Homeowners build equity but face sizable upfront costs. Assuming 3% annual appreciation, a $350,000 Westerville home could be worth around $405,000 by 2030. However, buyers must also factor in closing costs, property taxes, and ongoing maintenance over those five years.
Ultimately, the decision depends on individual circumstances. Those confident they’ll stay in Westerville long-term may prefer buying. Others prioritizing flexibility or lacking a down payment may continue renting. How Much It Costs to Live in Westerville Each Month and Cost of Living in Westerville: Your Monthly Budget Guide for 2025 provide additional context for this decision.
FAQs About Housing Costs in Westerville
- How much are HOA fees in Westerville?
Typical HOA fees range from $100 to $300 per month in Westerville neighborhoods that have them. However, older areas often do not have HOAs. - What is the property tax rate in Westerville?
Westerville’s effective property tax rate is around 2.0% of assessed home value. On a $350,000 home, expect to pay about $7,000 annually in property taxes. - Is renting cheaper than buying long-term in Westerville?
Renting is often cheaper month-to-month. But buying can be cost-effective long-term through equity and tax benefits. It depends on how long you plan to stay. - Do houses have higher utility costs than apartments?
Yes, houses typically have higher utility costs than apartments in Westerville due to larger square footage. Older homes may be less energy-efficient as well. - What’s the monthly cost difference between apartments and houses in Westerville?
On average, renting a 2-bedroom apartment in Westerville costs around $1,715 per month including utilities. Owning a 3-bedroom house has a typical monthly cost of $3,185 including mortgage, taxes, insurance, and upkeep.
Making Smart Housing Choices in Westerville
Housing costs are a major factor in any decision to rent or buy in Westerville. With a variety of neighborhoods and housing types available, it’s important to weigh the tradeoffs of space, amenities, and monthly costs.
For those moving from outside the area, compare moving company costs and options to find reputable movers serving Westerville. Overall, Westerville offers a range of housing choices for different budgets and lifestyles within the desirable Columbus area.
By understanding the key drivers of local housing costs, from property taxes to HOA fees, renters and buyers can make informed decisions. Whether prioritizing affordability, location, or long-term investment, Westerville has options to fit various needs in a vibrant, growing community.