<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Competition and prices will likely increase on rental properties in Columbus.<\/span><\/p>\n

Credit: Caleb Blake | Photo Editor<\/h6>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.thelantern.com\/projects\/files\/2024\/02\/Sale-Price-e5150aa5174c7105-1baad66dd8334279.jpg” title_text=”Sale-Price-e5150aa5174c7105″ _builder_version=”4.23.4″ _module_preset=”default” custom_margin=”||10px||false|false” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Median sales prices of Columbus homes over the past five years, according to data from the Columbus Realtors Association.<\/span><\/p>\n

Credit: Molly Goheen | Managing Editor for Digital Content<\/h6>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” inline_fonts=”Akshar,ABeeZee” global_colors_info=”{}”]According to a <\/span>2023 study<\/span><\/a> on Columbus housing by McKinsey, Columbus\u2019 population increased by one-third from 2000 to 2021, making Columbus the fastest-growing city in the Midwest with 500,000 new residents. In 2022, the same report declared Columbus and its surrounding suburbs the fifth \u201chottest\u201d housing market in the U.S.<\/span><\/p>\n
This fast-growing housing market poses risks for lower-income residents and historically disadvantaged communities, who, according to Boos, have had issues with housing accessibility since the 1950s, which are being brought to light by the city\u2019s recent development.\u00a0<\/span><\/p>\n
\u201cThe foreclosure crisis because of all that had outsized impacts on households of color and female-headed households,\u201d Boos said. \u201cAnd even now, today, we are still working with zoning codes that were written in the 1950s that just don’t match what our morality is anymore. And you have implicit bias affecting the housing world in ways that isn’t always obvious until you start looking for it.<\/span><\/p>\n
Columbus is currently in the process of rewriting zoning codes that haven\u2019t been updated for over 70 years with <\/span>proposals<\/span><\/a> expected to be made this year.\u00a0<\/span><\/p>\n
Although communities most at risk are people of color and single women, as Boos said, everyone is at risk.<\/span>
\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” inline_fonts=”Akshar,ABeeZee” global_colors_info=”{}”]Rent has gone up significantly in Columbus over the last 10 years, according to a <\/span>2022 study<\/span><\/a> by the Ohio Housing Finance Agency. Between 2012 and 2022, the median rent has increased by 10% when adjusted for inflation, which is the highest on record.\u00a0<\/span><\/p>\n
For homeowners, median sales prices have risen 22.6% from January to June 2023, from $262,750 to $322,205, according to Columbus Realtors\u2019 <\/span>June 2023 Central Ohio Housing Report<\/span><\/a>.\u00a0<\/span><\/p>\n
The average home in Ohio is valued at $213,149 according to <\/span>Zillow<\/span><\/a>. This means Central Ohio homes are over 1.5 times more expensive than the state average.\u00a0<\/span><\/p>\n
Zillow also has a median rent in Columbus valued at <\/span>$1,430<\/span><\/a>, and the median for all Ohio rentals at<\/span> $1,250<\/span><\/a>. This number has gone up significantly from the U.S. Census Bureau’s 2018-2022 median gross rent calculation for Columbus of <\/span>$1,161<\/span><\/a>. Columbus is currently the most expensive major city to buy or rent, and prices are only projected to increase.<\/span>
\n[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.thelantern.com\/projects\/files\/2024\/02\/Rental-Price-b90f3c67d6434bec-4212dbe3a4057f77.jpg” title_text=”Rental-Price-b90f3c67d6434bec” _builder_version=”4.23.4″ _module_preset=”default” width=”85%” module_alignment=”center” custom_margin=”||10px||false|false” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Median rental prices in Columbus for all types of housing over the past year, according to Zillow.<\/span><\/p>\n

Credit: Molly Goheen | Managing Editor for Digital Content<\/h6>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider divider_weight=”8px” _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”]<\/p>\n
Impact on Ohio State<\/span><\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” width=”48%” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” inline_fonts=”Akshar,ABeeZee” global_colors_info=”{}”]As Reece said, Columbus will need to increase construction of new homes and the university will need to expand student housing opportunities. Despite that, he remains optimistic about current development.\u00a0<\/span><\/p>\n
\u201cWe’ve had a long history of students kind of overpaying for lower quality housing, particularly in the University District,\u201d Reece said. \u201cIt’s hard to anticipate the growth that we’re going to see, will that still persist? Will other investors come in and try to buy up properties? And also, I think we will benefit to a degree by the expansion of residential options on campus that we\u2019ve seen built in the last decade.\u201d<\/span><\/p>\n
Amy Riegel, the executive director of the Coalition on Homelessness and Housing in Ohio, said students are a population that is at higher risk when it comes to finding affordable housing because of high demand and typically lower tenant protections.\u00a0<\/span><\/p>\n
\u201cI think that it is just another factor that makes college less affordable and harder to achieve for so many people within our communities,\u201d Riegel said. \u201cAnd it also adds risk levels to student housing that may create unsafe circumstances based upon overcrowding, or people rooming in areas of a home that just aren’t fit for a person to be staying in.\u201d<\/span><\/p>\n
Riegel said students graduating from Ohio State and other universities may struggle to find affordable housing even with a high-paying job that Intel could provide.\u00a0<\/span><\/p>\n
\u201cI talk to individuals on a regular basis, who are younger, who are coming out of their higher education. They have great jobs, like really good stable jobs, and they can barely afford an apartment, let alone really being able to put into perspective owning a home,\u201d Riegel said. \u201cAnd so we see that housing in central Columbus, or Central Ohio, is becoming more and more expensive and harder to find.\u201d<\/span><\/p>\n
Riegel, who lives in a college neighborhood in Dayton, said after a certain point, it becomes less profitable for landlords to rent to college students and more advantageous to rent to high-earning adults and families who want the benefits of being near a college campus like Ohio State.\u00a0<\/span><\/p>\n
\u201cIf you get to the point, which I think Columbus’ numbers are probably approaching that region, or level, where a landlord renting to an everyday nonstudent would actually receive more rent continuously than renting to a student,\u201d Riegel said. \u201cAnd when you see those economics flip, it means that universities are kind of caught off guard because it takes universities a long time to build housing and to address adjustments in the market. And so it could leave students having to live further from campus, students to overcrowd in two units and students to pay way more.\u201d<\/span><\/p>\n
Despite this possibility, Riegel said she has been impressed by Ohio State\u2019s construction efforts, such as building dorms and university housing upwards and condensing the university through higher-density housing instead of sprawling into other areas.<\/span>
\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider divider_weight=”8px” _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”]<\/p>\n
\n
A rock and a hard place<\/span><\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Although the rapid development of Columbus threatens lower-income communities, proponents of these companies say Intel and others are not responsible for Columbus\u2019 historical lack of housing.\u00a0<\/span><\/span><\/p>\n
Still, McDonald said Intel and Columbus have to be mindful of the impact their arrival may have on the community.\u00a0<\/span><\/p>\n
\u201cI think anytime you have growth, especially really big stuff like this, there’s potential for it to be negative,\u201d McDonald said. \u201cBut I would think that it’s one of the focus areas of the Columbus Partnership and One Columbus and all the communities that we work with on a daily basis, to mitigate those things. So as we grow, to build more housing, to make sure that we’re remaining to be an affordable place, that we’re building transit systems around in different ways, and we have great partnerships.\u201d<\/span><\/p>\n
The opportunities and economic growth expected to arrive in Columbus within the next 10 years could also offset the growing costs of the region, according to McDonald.<\/span><\/p>\n
\u201cI think these companies are an example of not only how we’re bringing new industries here, but their outreach to students and educators across our region, in particular minority populations, has been extraordinary by historical measure, and I have really high hopes that it will not only create jobs but create access for everybody to those jobs,\u201d McDonald said. <\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.thelantern.com\/projects\/files\/2024\/02\/Home-Inventory-8d397ac8fe1f987b-11fb6abe621f4d79.jpg” title_text=”Home-Inventory-8d397ac8fe1f987b” _builder_version=”4.23.4″ _module_preset=”default” custom_margin=”||10px||false|false” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Housing units in Columbus over the past five years have decreased in availability, according to the Columbus Realtors Association.<\/span><\/p>\n
Credit: Molly Goheen | Managing Editor for Digital Content<\/h6>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_3,1_3″ _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”][et_pb_column type=”2_3″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.thelantern.com\/projects\/files\/2024\/02\/intel_housing-2-ec94f95afde88768-e014decebeb67f95.jpg” title_text=”intel_housing-2-ec94f95afde88768″ _builder_version=”4.23.4″ _module_preset=”default” custom_margin=”||10px||false|false” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
In a housing crisis, at-risk communities include students, people of color, women and low-income individuals.<\/span><\/p>\n
Credit: Caleb Blake | Photo Editor<\/h6>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]Sherrice Thomas, the vice president of diversity, equity, inclusion and access for the Columbus Chamber of Commerce, serves on the Community Shelter Board and sees both the positive and negative components of Columbus’ expansion.<\/span><\/p>\n
Thomas said the arrival of higher-income individuals to Columbus is inevitable, which will increase gentrification and housing prices.\u00a0<\/span><\/p>\n
\u201cThey have the ability to pay certain prices for housing that others may not. And so as a result of that, it’s gonna drive up our housing prices,\u201d Thomas said. \u201cAnd I believe we see some of that happening now. But I want to be clear that it’s an unintentional consequence because we need that business to grow in order to thrive as a region.\u201d<\/span>
\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” width=”48%” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”]<\/p>\n
\u201cThey have the ability to pay certain prices for housing that others may not. And so as a result of that, it’s gonna drive up our housing prices,\u201d Thomas said. \u201cAnd I believe we see some of that happening now. But I want to be clear that it’s an unintentional consequence because we need that business to grow in order to thrive as a region.\u201d<\/span><\/strong><\/h3>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u2014 Sherrice Thomas, vice president of diversity, equity, inclusion and access for the Columbus Chamber of Commerce<\/span><\/h3>\n
[\/et_pb_text][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]According to Thomas, neighborhoods of color and regions such as Olde Towne East, are becoming increasingly gentrified and expensive, although this results in neighborhood amenities such as new apartments and businesses.\u00a0<\/span><\/p>\n
\u201cWhat we’re starting to see is those areas are being the word that many might use as gentrified,\u201d Thomas said. \u201cAnd as you can imagine, as the property value goes up, because different types of people move in, they begin to do different types of improvements on the homes and all of those things. When those property values go up, sometimes people who were in the neighborhood originally are priced out of their market. And so usually, that’s through income tax increases. And that becomes a little challenging [for] them.\u201d<\/span>
\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider divider_weight=”8px” _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”]<\/p>\n
\n
Solutions and implementation for development<\/span><\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” width=”48%” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
In spite of the issues development brings, Thomas said leaders in Columbus are making an effort to address them on the government and nonprofit levels, as well as within private corporations. Updating zoning codes is a major step in the right direction for housing development. The <\/span>Columbus Housing Strategy<\/span><\/a>, implemented by Columbus Mayor Andrew Ginther, aims to double the supply of housing in the region and since 2019, over $250 million has been authorized for housing bond packages and other affordable housing initiatives.\u00a0<\/span><\/p>\n
\u201cOur city leaders knew this was going to be a challenge from the beginning,\u201d Thomas said. \u201cAnd it’s almost like they understand that we have to perform while we’re transforming. So they’re doing really great work.\u201d<\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.thelantern.com\/projects\/files\/2024\/02\/MollyGoheen_Intel-08-0a349537f4ee6ba7-d61b189e41453064.jpg” title_text=”MollyGoheen_Intel-08-0a349537f4ee6ba7″ _builder_version=”4.23.4″ _module_preset=”default” width=”85%” module_alignment=”center” custom_margin=”||10px||false|false” animation_style=”fade” global_colors_info=”{}”][\/et_pb_image][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Rapid development requires conscious work on the side of all counterparts involved, including businesses, government and non-profits.<\/span><\/p>\n
Credit: Molly Goheen | Managing Editor for Digital Content<\/h6>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.23.4″ _module_preset=”default” width=”48%” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]Organizations like the Coalition on Homelessness & Housing in Ohio and the Affordable Housing Alliance of Central Ohio are doing some of the grassroots work to solve the housing crisis in Ohio and Columbus. <\/span>COHHIO<\/span><\/a> tracks and manages data on housing and homelessness in a variety of Ohio communities and offers educational programs for at-risk communities to break down barriers to accessible housing. <\/span>AHACO<\/span><\/a> has provided housing aid in the form of hundreds of millions of dollars and also provides resources for those looking for affordable housing.\u00a0<\/span><\/p>\n
Boos said the housing crisis needs to be solved if Columbus wants to retain its reputation as a welcoming and affordable Midwestern city.<\/span><\/p>\n
\u201cIt’s Midwestern to be able to buy a home when you’re 28,\u201d Boos said. \u201cAnd to build wealth and to raise a family and to have the security to maybe start a small business. <\/span>When you start seeing single-family starter homes selling for $400,000-$500,000, that Midwestern identity is going to evaporate really quickly. And that doesn’t matter if you’re in Hilliard, or Reynoldsburg, or Upper Arlington or Granville, it’s going to be everywhere unless we act as a region to get ahead of it.\u201d<\/span><\/p>\n
Riegel mentioned the diversity of Ohio is part of what makes it such an appealing state. With rural, suburban and urban areas, Ohio and Columbus appeal to a wide variety of people but need the reputation of affordability to remain so. <\/span>
\n[\/et_pb_text][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” animation_style=”fade” global_colors_info=”{}”]<\/p>\n
\u201cWhen you start seeing single-family starter homes selling for $400,000-$500,000, that Midwestern identity is going to evaporate really quickly. And that doesn’t matter if you’re in Hilliard, or Reynoldsburg, or Upper Arlington or Granville, it’s going to be everywhere unless we act as a region to get ahead of it.<\/span><\/strong>\u201d<\/span><\/strong><\/h3>\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u2014 Carlie Boos, <\/span>executive director at the Affordable Housing Alliance of Central Ohio<\/span><\/h3>\n
[\/et_pb_text][et_pb_text _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
To help solve the housing crisis, Columbus needs to come together, recognize its diversity and realize it is a community issue, Boos said.<\/p>\n
\u201cI think we need to understand that even if I’m housing secure, I am actively losing out because other people don’t have enough housing,\u201d Boos said. \u201cSo yes, get in the game, do the thing. fight for what’s right, because you believe it’s right. But also, we need to understand that we will all grow, we will all get stronger, and we will all directly benefit if we can solve this thing.\u201d <\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.22.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider divider_weight=”8px” _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Words by<\/em> Phoebe Helms<\/span><\/span><\/p>\n
Web Design by<\/em> Gaurav Law<\/span><\/span><\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
Housing Crisis looms over Columbus\u2019 self-proclaimed reputation as the “Silicon Heartland” Ohio has made its reputation on being an approachable, affordable Midwestern state. With a variety of regional focuses including agriculture, manufacturing and entrepreneurship, Ohio\u2019s diversity of profession is what makes its appeal. Columbus in particular has established itself as the fastest-growing city in […]<\/p>\n","protected":false},"author":4202,"featured_media":8253,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"
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