Lease price per square foot averages by zip code for Columbus

[Robert Ellis]

I thought everyone might find this useful. Instead of going to rentometer or going on craigslist, or zillow, our real estate team uses a spreadsheet we created for analyzing potential rents. We analyzed over 1300 signed leases in 48 different zip codes to put these numbers together. There is something called "Rental Comparables" in Columbus for your units. We have zip code and Lease price per square foot. 

For example, if I had a 855 square foot townhome that leased for $1300 per month, that would be $1300 / 855 sq ft = $1.52 / square foot lease price. If I had a 1200 square foot unit, I could multiply the $1.52 * 1200 to get $1824 per month target rent. Basements, garages, bedrooms, townhome vs flat are other things that can make a difference, but we use this to analyze deals and I'm sure a lot of you could get some great use out of it. Here are all of the zip codes we've analyzed in Central Ohio / Columbus area. This is based on leases from the trailing 6 months. Sorted from highest to lowest Lease Price Per Sq Ft. 

These can be used to estimate rental amounts, see if your unit rentals are above or below the average market rent per square foot. Please understand this is a huge average of many leases for every zip code, but I am sure you all can find use of it. 

Zip Code	Lease Price Per Sq Ft
43215	$1.55
43214	$1.21
43201	$1.18
43212	$1.09
43209	$1.01
43221	$1.00
43017	$1.00
43085	$0.99
43074	$0.97
43202	$0.97
43240	$0.97
43035	$0.96
43206	$0.95
43054	$0.94
43065	$0.94
43016	$0.93
43026	$0.91
43082	$0.88
43220	$0.88
43235	$0.88
43230	$0.87
43064	$0.87
43015	$0.85
43081	$0.84
43004	$0.82
43119	$0.82
43123	$0.81
43130	$0.80
43228	$0.80
43224	$0.80
43068	$0.79
43040	$0.79
43231	$0.79
43229	$0.79
43110	$0.78
43147	$0.77
43062	$0.77
43207	$0.74
43232	$0.74
43125	$0.74
43021	$0.72
43213	$0.70
43055	$0.68
43204	$0.65
43227	$0.65
43203	$0.64
43205	$0.62
43223	$0.61