Evaluated, not offering now

Columbus, Ohio real estate market for rental investors

Columbus has some of the strongest rent growth and lowest rental vacancy in the Midwest, backed by Ohio State, state government, and a diverse private economy. Lineage is not offering properties here now because the typical single-family property is priced above the $350,000 top of its buy box, and only the lower third of prices leaves rent enough room over the loan payment.

Reviewed by Patrick Roach

Columbus is a ten-county metro of 2.24 million people in central Ohio, home to Ohio State, the state capital, and large JPMorgan Chase and Nationwide offices. Population grew 0.96% in the year to July 2025, almost double the national rate. Single-family rents rose 4.80% over the year to September 2026, against 3.13% nationally, and rental vacancy is just 3.93%. The weak spots are payroll jobs, which slipped 0.13%, and a record apartment pipeline. Intel's Ohio One fab in Licking County is under construction with a first fab now due in 2030 or 2031. Here is what the numbers say and why Lineage is not buying here today.

What’s changing in Columbus, OH

Dated announcements that bring jobs. Announced means planned, and operating means people work there now.

  1. AnnouncedNovember 9, 2026

    Honda announces a $3 billion auto plant in Union County

    $3 billion and more than 2,000 jobs for the plant. With upgrades at two other Ohio plants, 2,390 jobs and $3.38 billion. Production planned for 2029.

    What it means for rentersSuppliers, trucking firms, and contractors hire around an auto plant, and construction crews arrive years before production starts. Ohio approved a tax credit on November 9, and JobsOhio assistance is not final.

    Source: Spectrum News
  2. Under constructionFirst fab now due 2030 to 2031 (delay announced February 2025)

    Intel's Ohio One chip fab in Licking County

    $28 billion for two fabs, about 3,000 Intel jobs and about 7,000 construction jobs

    What it means for rentersConstruction trades, equipment installers, and site contractors are hiring now around New Albany and Johnstown, and they rent near the site. The 3,000 permanent jobs, and the suppliers that would follow them, depend on a fab that is years from opening.

    Source: Construction Dive
  3. OperatingMarch 23, 2026

    Anduril begins production at Arsenal-1 near Rickenbacker

    About 250 employees by the end of 2026, and a plan to hire 4,000 over the next decade

    What it means for rentersA defense plant of this kind pulls in machinists, engineers, and parts suppliers in Pickaway and southern Franklin counties. New hires relocating for these roles typically rent first.

    Source: Air & Space Forces Magazine
Show all 6 announcements
  1. AnnouncedJune 16, 2026

    Hikma expands drug plants in Columbus and Bedford

    $267 million and 350 jobs across Columbus and Bedford, Ohio

    What it means for rentersPlant technicians and quality staff are the main hires, and maintenance contractors and distribution firms hire around them. Workers who move for these jobs usually rent first. Ohio approved a job creation tax credit and no completion date is given.

    Source: Area Development
  2. AnnouncedMarch 12, 2026

    Honda cancels its electric vehicle models

    Three planned EV models cancelled. Ohio plants keep building gasoline and hybrid vehicles.

    What it means for rentersThe plants stay busy, so the immediate job effect is small. The EV growth that the retooling was meant to bring to Union and Logan counties, and to suppliers around them, is off the table for now.

    Source: Automotive Manufacturing Solutions
  3. AnnouncedJanuary 2027

    Columbus rental registry takes effect

    $15 per unit a year, with an inspection every three years

    What it means for rentersOwners with ten or more units must name a local operator. For a single-family owner the cost is small, but it is one more item to track.

    Source: Kegler Brown
Who rents here

The institutions that fill rentals in Columbus, OH

  • University56,710 employees university-wide and 61,326 students on the Columbus campus, 2025-26

    The Ohio State University

    The largest employer in the region and a steady source of renters, from students to medical center staff.

    Source: The Ohio State University
  • Employer17,480 employees

    JPMorgan Chase

    The largest private employer in the region, with a large operations campus in Columbus.

    Source: Columbus Region
  • Employer16,000 employees

    Nationwide

    Insurance and financial services, headquartered downtown.

    Source: Columbus Region
  • Employer8,850 employees

    Honda

    Marysville and East Liberty plants keep building gasoline and hybrid vehicles after Honda cancelled its electric models in March 2026.

    Source: Columbus Region
  • Government2,500 employees

    DLA Land and Maritime, Defense Supply Center Columbus

    A large federal civilian workforce on the east side of the city.

    Source: Columbus Region
By the numbers

Columbus, OH against the national figure

The seven measures Lineage checks in every market, each beside the national figure for the same period.

  • Rent to price (gross yield)

    near national
    Columbus, OH
    7.21%
    National
    7.39%

    On a $2,108 typical rent and a $350,774 typical value, prices have risen faster than rents, so the ratio sits slightly below national.

    Zillow ZORI and ZHVI single-family · September 2026

  • Rent growth

    above national
    Columbus, OH
    +4.80%
    National
    +3.13%

    Single-family rents are growing about half again as fast as the national pace.

    Zillow ZORI single-family · September 2026

  • Jobs and population

    below national
    Columbus, OH
    Jobs -0.13%, population +0.96%
    National
    Jobs +0.32%, population +0.5%

    Payrolls of 1,195,700 are flat while population grows, and a second measure of covered employment shows 1.1% to 1.9% growth that may lift the payroll count when it is revised in March 2027.

    BLS Current Employment Statistics, Census Vintage 2025 estimates · September 2026 (jobs), July 2025 (population)

  • Vacancy and new supply

    favorable
    Columbus, OH
    3.93%
    National
    5.54%

    Single-family vacancy is tight, while 9,549 apartment units permitted in 2025 and apartment vacancy of 10.1% including lease-up show a large wave being absorbed, with 2027 deliveries forecast to fall.

    Census ACS 2020-2024, Census Building Permits Survey, CoStar · ACS 2020-2024, September 2026

  • Landlord law

    favorable
    Columbus, OH
    3-day notice, no deposit cap
    National
    Varies by state

    Ohio has no rent control, and Columbus adds a source-of-income rule and a rental registry from January 2027, a modest extra layer of city rules.

    Ohio Revised Code 1923.04 and 5321.16, City of Columbus · October 2026

  • Insurance

    favorable
    Columbus, OH
    $1,700 to $2,200 a year
    National
    $3,057 a year

    Premiums run about two-thirds of the national average, on an Ohio trend of about 6.1% a year against about 6.8% nationally, and insurers are not pulling back in Franklin County.

    Lineage insurance quotes, Insurify · October 2026

  • Property management depth

    favorable
    Columbus, OH
    Deep bench, published fees
    National
    No national benchmark

    Out-of-state owners have several established managers with published fees and door counts to choose from.

    Lineage review of published operator fees · October 2026

Why Lineage isn't offering properties in Columbus now

Lineage buys properties priced $150,000 to $350,000 where the rent covers the loan payment with room to spare. The typical single-family property in Columbus is valued at $350,774, just above that range, and at that price the typical $2,108 rent does not cover the loan with enough margin. Only the lower third of the market gives rent that room, and much of it sits in older neighborhoods or districts with higher tax bills. The gross yield of 7.21% is below the national figure, and a record apartment pipeline is still being absorbed. This reflects Lineage's buy box. Columbus remains one of the stronger rental demand markets in the Midwest.

Markets we offer that fit a similar investor

Owning here

Law, taxes, and insurance

Landlord law in Ohio

Ohio requires a 3-day notice before a landlord files for eviction over unpaid rent, and an uncontested case typically runs four to six weeks. Ohio has no rent control. There is no cap on security deposits, and the deposit must be returned with an itemized list within 30 days after the tenant leaves. The City of Columbus adds a rule against refusing tenants based on their source of income, and a rental registry that starts in January 2027 at $15 per unit a year.

Taxes and insurance

Ohio assesses property at 35% of market value. Inside the City of Columbus and Columbus City Schools, a rental property pays about 1.609% of its value a year after a state credit, or roughly $5,644 on a $350,774 property, against a national average of 1.504%. That credit is being phased out by tax year 2029, which raises the bill for every rental. Rates range from 1.308% to 2.170% across the main districts. Insurance for a typical rental runs $1,700 to $2,200 a year, below the national average of about $3,057.

Risks

What could go wrong

  • Payrolls are flat

    Payroll jobs fell 0.13% in the year to September 2026 while the national count grew 0.32%. A second measure shows growth, so the March 2027 revision matters.

  • Apartment supply

    Builders permitted 9,549 apartment units in 2025, about three times the national rate per resident, and apartment vacancy is 10.1% including lease-up. Deliveries are forecast to fall about 44% in 2027.

  • Intel timing

    The first fab is now due in 2030 or 2031, and no customer has been announced. Investors should not count fab jobs as demand today.

  • Rising tax bills on rentals

    Ohio's 2025 law phases out a credit that rental property still receives, raising bills through 2029. Any future Columbus City Schools levy would add to that.

FAQ

Questions investors ask

Is Columbus, Ohio a good place to buy rental property?

Columbus has strong rental demand. Single-family rents rose 4.80% in the year to September 2026 and rental vacancy is under 4%. The challenge is price. The typical single-family property is valued at about $350,800, and at that level rent doesn't leave much room over the loan payment. Lineage is not offering properties here now for that reason.

What is the average rent in Columbus, Ohio?

A typical single-family rental in the Columbus metro rented for $2,108 a month in September 2026, according to Zillow's single-family rent index, up 4.80% from a year earlier. Rents across all rental types are lower by area, from about $1,226 in Lancaster to $1,783 in Galloway.

Is Ohio landlord friendly?

Generally, yes. Ohio requires only a 3-day notice before an eviction filing for unpaid rent, has no rent control, and sets no cap on security deposits. Deposits must be returned with an itemized list within 30 days. Columbus adds a source-of-income rule and a rental registry starting in January 2027.

How will the Intel plant affect Columbus rentals?

Today the effect comes from construction. Intel's $28 billion Ohio One project in Licking County employs construction crews now, and Intel plans about 3,000 permanent jobs once the fabs open. The first fab is now expected in 2030 or 2031, so permanent demand from the plant is several years away.

What are property taxes on a rental in Columbus?

Inside the City of Columbus and Columbus City Schools, a rental property pays about 1.609% of its value a year after a state credit. That is about $5,644 on a $350,774 property. Rates across the main districts range from 1.308% to 2.170%, and the credit for rentals phases out by tax year 2029.

Sources and method

Reviewed October 2026 by Patrick Roach. Every market figure is paired with a national figure for the same period. Figures were current at review and will change. This page is research, not investment advice.

Keep reading

Show all 12 sources
  1. BLS, Columbus Economy at a Glance Accessed 2026-11-13
  2. Zillow Research, ZORI single-family rents Accessed 2026-11-13
  3. The Ohio State University, Statistical Summary 2025-26 Accessed 2026-11-13
  4. Columbus Region, largest employers Accessed 2026-11-13
  5. Construction Dive, Intel delays Ohio One to 2030-2031 Accessed 2026-11-13
  6. Air & Space Forces Magazine, Anduril Arsenal-1 Accessed 2026-11-13
  7. Automotive Manufacturing Solutions, Honda EV cancellation Accessed 2026-11-13
  8. Kegler Brown, Columbus rental registration program Accessed 2026-11-13
  9. Franklin County Auditor, 2025 tax rates Accessed 2026-11-13
  10. Ohio Revised Code 1923.04 Accessed 2026-11-13
  11. Spectrum News, Honda announces Ohio plant, November 9, 2026 Accessed 2026-11-13
  12. Area Development, Hikma Pharmaceuticals, Columbus and Bedford, June 2026 Accessed 2026-11-13
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