Development
The Buzz About Columbus Multifamily Development

With a population nearing a million people, Columbus, Ohio is one of the fastest growing cities in the nation. The diverse population is growing as people flock to it from all parts of the country and the world, and these new Ohioans need a place to live – so the multifamily housing industry in Columbus is hustling to match the demand. The industry tackles these newfound needs for quickly attainable housing with both new builds and renovated communities, embracing the influx of people to the city with enthusiasm and creative solutions.

What’s bringing all these new faces to Columbus? This state capital houses headquarters for corporations in a wide range of industries, including five Fortune 500 companies, and is home to the Ohio State University’s main campus, which is one of the largest colleges in the nation. You’ll find household names like Nationwide Insurance, Wendy’s, and L Brands rooted here, with other big names like Chase and Amazon featuring significant footholds in the area. Columbus maintains its Midwestern charm and friendliness while boasting the trendy and technological advances of some of the biggest cities in the country.

This growth has seen a corresponding spike in the number of apartments that are considered “luxury” or “high-end.” More and more renters are seeking out communities that offer just that – a sense of community, as well as beautiful spaces and unique amenities.

New communities often create spaces that bring people together and incorporate their interests, like gyms with studio spaces to work out together and pet-focused amenities like dog washing boutiques.

According to Columbus Business First, there were 5,600 multifamily units under construction as of October 2018, which is more than Ohio’s next four biggest cities have combined. Despite that, the demand for apartment still outpaces growth, providing a huge opportunity for both newly built communities and established complexes to fill up. Columbus itself stretches through most of Franklin County and into the surrounding suburbs, where renters seek the same standard of living a short commute from the bustle of downtown.

The traditional viewpoint may be that only those who cannot afford to buy will rent, but that’s changing. Now it’s not just millennials who are renting but also baby boomers, not just those who find it financially more sustainable to rent but also those who do not want to deal with the upkeep of a house and yard. Empty nesters may find it beneficial to sell the homes they’ve owned for years in the Central Ohio area, because home values are up and buyers are still plentiful. When they look for a place to go, they no longer exclusively look for a smaller home or a condo option, but instead they look at what the apartment market has to offer.

All of these changes compound to make navigating the rental market in Columbus seem overwhelming to some, as renters ask, where do I start? Oakwood Management Company compounds all of its communities in an easy-to-use website, where you can see over fifty communities throughout Central Ohio, all boasting the impeccable management of Oakwood. In total, Oakwood proudly manages over 8,000 apartments, the largest selection in Columbus.

With thousands of new units coming online, the multifamily industry in Columbus isn’t slowing down anytime soon. We can help you sort through all your options and find your perfect place. Get your search started right with Oakwood.

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