Forbes have listed Columbus Ohio as the sixth most affordable major city to purchase a home in the US!

The article focuses on the ten most stable yet affordable areas for buyers who are concerned about market volatility. It mentions that whilst a bubble was growing in areas such as Phoenix and LA in recent years, prices were increasing at a more modest rate here in Central Ohio.

The article has filtered through the 222 market data reports taken by the National Association of Realtors and eliminated any market with a price drop of more than 10% to leave a list of markets where a home buyer looking to build equity in a stable market may do well to purchase a home in.

With mortgage rates at 50 year lows and a great selection of inventory available you could ask why you would not want to buy a home right now?

The article lists Columbus with the following statistics:

Median home price: $126,500

Median family income: $65,300

Percentage of homes sold available to median earner: 81.7%

This shows that affordability is great and as mentioned, stability is the key to success. During the boom years the market grew on average here under 5% per annum, this stability has made the area very popular with buyers. The Columbus Board of Realtor’s has a website dedicated to telling buyers why the grass is greener here with a stable market.

This article comes just a short while after Businessweek named Pataskala, Ohio – in the Columbus Metro area as one of the most affordable suburbs in the nation!

If you are looking to purchase a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

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