Welcome to the February 2020 Columbus Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the February 2020 key findings and figures for the Columbus rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Columbus and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Columbus rent prices in the chart below.
Columbus rent prices decreased over the last month. From January to February, the city experienced a -2.61% decrease for the price of a one-bedroom apartment. The rent price for a Columbus one-bedroom apartments currently stands at $933.
When we take a look at the two-bedroom comparison from January to February, Columbus experienced a 0.09% increase for the price of a two-bedroom apartment. The rent price for a Columbus two-bedroom apartments currently stands at $1,062.
Rent prices have decreased in Columbus over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Columbus suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Dublin, OH, Lewis Center, OH, New Albany, OH .
Rent decreased in Westerville, OH, Hilliard, OH, Gahanna, OH.
5 suburbs are currently priced higher than the city of Columbus.
1 suburb is currently priced lower than the city of Columbus.
Rent growth in Columbus over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Columbus rent prices appear to be relatively affordable for local residents.
The price for a Columbus one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of ABODO's February 2020 National Apartment Report and data set here.
For more information about Columbus and surrounding area rent prices, take a look at the complete data set below.
|1 BR February||1 BR M/M % Change||2 BR February||2 BR M/M % Change|
|Lewis Center, OH||$1,063||4.22%||$1,614||16.53%|
|New Albany, OH||$1,064||0.09%||$1,475||-2.25%|
Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.