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Home Price Appreciation in Columbus

Posted by Mike Parsons
July 28, 2006 at 01:53 AM

Home appreciation in Columbus tends to be governed by 3 factors. There are always exceptions but these are good guidelines to follow when evaluating the investment of your purchase. If you’re prospective home has one of these qualities you are in pretty good shape, if it has all three you will be in one of the highest appreciating areas in the city.

1. School District. School districts are one of the most important factors in driving values and contribute to the demand for certain Columbus suburbs.

2. Proximity to downtown. A close proximity to downtown is important to most residents for shorter drivetimes to work and play, as well as a central disposition to other locations in the city.

3. Character. When I say character I am talking about older homes that can’t be rebuilt today for anywhere near the current values. These homes can be found in older neighborhoods and usually carry high emotional appeal for their beauty and unique qualities.

Suburbs like Bexley, Grandview, Worthington, and Upper Arlington which, ironically, share all three factors are the most appreciating areas in the city. All have a close commute to downtown, excellent schools, and beautiful old homes in there central areas. Neighborhoods like Victorian Village, German Village, and Clintonville all have amazing older homes with character as well as excellent proximity to the city. These areas have also appreciated extremely well. Others may have one or two of the factors and still do very well.

Notable Columbus School Districts are Upper Arlington, Bexley, Dublin, Grandview, Worthington, Plain Local(New Albany), Olentangy(Powell/Lewis Center), Gahanna, Hilliard, and Westerville.

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