Columbus Ohio Multifamily Investing

[Jonathan Wigan]

As a state capitol with one of the largest colleges in the country, and as a base for many large companies such as JPMorgan Chase, L Brands, Honda, Nationwide and State Farm Insurance just to name a few, Columbus has a tremendous need for multifamily housing fed by a growing population, a low cost of living along with a high ranking as one of the safest cities for families with young children. As the second largest city in the Midwest next only to Chicago, Columbus is and has been consistently delivering some of the best capitalization rates and cash on cash returns for investors during the past several years.

As the winner of the U.S. Department of Transportation's (USDOT) first-ever Smart City Challenge, Columbus was awarded $50 million in grant funding and leveraged that into $500 million of funding. Columbus is set to fully implement most smart city projects by mid-2021 which will increase economic growth, improve quality of life, provide better access to jobs and help encourage and usher in a new level of sustainability.

There are great opportunities in every price range for multifamily investors in Columbus and even with the COVID-19 pandemic, construction on multifamily projects continues to move forward at a rapid pace. In the coming months as the virus is brought more under control with vaccinations and innovations in treatment, the inventors who were able to get into the market now and in the prior year should be set to see some tremendous growth.