Columbus, OH News Release:
- September 4, 2015: Downtown Columbus reaching finish line of 35.5 Million Dollar riverfront renovation; adding 33 acres of new green space! (Click here)
- August 2015: Columbus on pace to reach its "Columbus 2020" economic growth plan before the end of the decade! (Click here)
- July 2, 2015: Forbes ranks Columbus, OH #11 "Best Places for Business and Careers" (Click here)
- July 1, 2015: Ohio unemployment rate down to only 4.2% (Click here)
- February 2015: Columbus 2020 forecasts a bright 2015 for local economy (Click here)
- September 21, 2014: Columbus, OH ranked #8 U.S. city for economic growth! (Click here)
- May 17, 2014 - Trulia.com ranks Columbus as the #6 most affordable city for home buying in the USA! (Click here)
Columbus is the capital and the largest city in the U.S. state of Ohio.
The Columbus metropolitan statistical area (MSA), which encompasses several counties, is the third largest in Ohio, after the Cleveland MSA and the Cincinnati MSA (which includes portions of Kentucky and Indiana). Columbus is the fifteenth largest city in the United States of America.
The population of the city was 787,033 at the 2010 census, making it the most populous city in Ohio. Although Columbus was the 15th largest city in the United States, its metropolitan area was 28th largest, with 2,308,509 residents.
It is the fourth most populous state capital in the United States. According to the U.S. Census Bureau, the Columbus Combined Statistical Area (which also includes Marion and Chillicothe) has a population of 2,348,495.
Housing market red-hot in central Ohio
- Sales up 27 percent last month compared with year ago
- Buyers snatched up central Ohio homes at a record pace in May as the housing market continues to build steam.
- Home prices, which have lagged sales, also showed big gains during the month.
- In the Columbus area, 2,756 homes changed hands — 27 percent more than a year ago and the highest May sales ever recorded by the Columbus Board of Realtors.
- Sales are up 25 percent through May in central Ohio compared with the same period a year ago, continuing a recovery that began at the end of 2011.
- Led by strong gains in Columbus and Cincinnati, sales throughout Ohio rose 16 percent from a year ago, for the 23rd consecutive monthly gain.
- The median sale price of a central Ohio home rose 8 percent to $150,000 in May while nationally; the median price leapt 15 percent to $208,000, the highest level since July 2008.
- Condominium sales, which have lagged, also appear to be joining the party. Central Ohio condo sales rose 39 percent in May and are up 36 percent for the first five months of the year.
- Cost of living is well below the national average
- Columbus offers one of the best price/rent ratios in the nation
- Rent demand is at an all-time high
- Employment opportunities have expanded thru out the region
- Ohio boasts a regional economy of $170 billion
- The region is undergoing nearly $11 billion in major capital investment
The city has a diverse economy based on education, government, insurance, banking, fashion, defense, aviation, food, clothes, logistics, steel, energy, medical research, health care, hospitality, retail, and technology.
- Columbus is home to the world's largest private research and development foundation, the Battelle Memorial Institute
- Chemical Abstracts Service, the world's largest clearinghouse of chemical information is headquartered in Columbus.
- Home to Net Jets, the world's largest fractional ownership jet aircraft fleet.
- OhioStateUniversity is one of the largest college campuses in the United States.
- As of 2013, the city has the headquarters of four corporations in the U.S. Fortune 500, including Nationwide Mutual Insurance Company, American Electric Power, L Brands, and Big Lots.
- Cardinal Health and Wendy's corporations are also based in the Columbus metropolitan area.
- Major foreign corporations operating or with divisions in the city include Germany-based Siemens and Roxane Laboratories, Finland-based Vaisala, Tomasco Mulciber Inc., A Y Manufacturing, Yachiyo of America and US Yachiyo, Inc.
- In 2012, Columbus was ranked in Business Week’s 50 best cities in America.
- In 2013, Forbes gave Columbus an A rating as one of the top cities for business in the U.S. Columbus was also ranked as the no. 1 up-and-coming tech city in the nation by Forbes in 2008.
- The city was ranked a top ten city by Relocate America in 2010.
- The Columbus Zoo and Aquarium was rated no. 1 in 2009 by USA Travel Guide.
- Nationwide Arena
- Franklin Park Conservatory
- Columbus Zoo and Aquarium
- ColumbusMuseum of Art
- Newport Music Hall
The macro environment is critical when looking at rental real estate investments, and Columbus hits all the markers. There is strong rental demand, and a good economy leading to stable renters and great cash flow for investors