‘Wall Street Journal’ says Columbus’ reputation as ‘affordable’ could be too much of a good thing

“The city’s Goldilocks status as an employer magnet with still-reasonable housing is now on shaky ground,” writes Willy Parker and Chip Cutter for Wall Street Journal.

WSJ released an article last week commenting on a trend some of us have probably witnessed lately: that our city’s reputation as “affordable” is making homes here more expensive.

“For the city’s housing market, it is starting to look like too much of a good thing,” said WSJ. They remarked that companies, such as Anduril, JPMorgan Chase, and Amgen are creating jobs much faster than home builders and developers can create more homes.

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Since 2020, home values in Columbus are up 51%, one of the highest rates in the Midwest. Rent is also increasing. In one year, rent prices in Columbus have increased by 7%, some of the fastest rising rents in the country, says WSJ.

Mayor Ginther and City Council are encouraging new housing construction by unveiling a plan to rezone almost half of Columbus to allow more building activity, and also cutting property taxes for developers who include affordable, low-income housing in their projects.

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