Why Columbus, Ohio is One of the Hottest Real Estate Markets in 2021
Now is the time to buy in Columbus, Ohio! While 2021 has had economic ups and downs, purchasing real estate is an opportunity on which to capitalize. Columbus is in the top 10 recommended American cities for real estate investing. The low cost of homes in Ohio has made purchasing accessible and appealing.
Real Estate Prices in Columbus, Ohio
According to Ohio Realtors, home sales rose from 8,623 in January 2020 to 9,383 in January 2021. The average sales price for a house across the Buckeye State in January 2021 reached $211,050, a 15% boost from the $183,782 average sale price in the same month last year.
A mortgage payment includes principal, interest, tax, and homeowner’s insurance. Ohio’s mortgage interest rates range from 2.0-4.5% and real estate tax is lower than many states. Because of these reasonable rates, more money can go towards the principal. Purchasing power is much higher in Ohio compared to high tax states like California or New York.
What Makes Columbus Standout
Columbus’ population growth is approximately 1.34% yearly, while median household incomes grew by 0.45% this past year. Five Fortune 500 corporation headquarters are located in Columbus, which gives residents numerous job opportunities. These companies include American Electric Power, Cardinal Health, L Brands, Nationwide, and Big Lots.
The number of doctors per capita in Central Ohio is considered abundant. Columbus is proud to be the home of several nationally ranked hospitals, including Nationwide Children’s Hospital which last year was ranked 7th best children’s hospital in the United States. Ohio State Campus is home to the third largest cancer hospital in the United States, The Arthur G. James Cancer Hospital. In 2020, US News and World Report ranked “The James” 30th out of 899 cancer hospitals.
As far as the educational system, there are […]
