What Is The Current Average Rent For 3 Bd 2+Ba In The Columbus Ohio Market

[Hassan DeWitt]

Hello people of BiggerPockets,

I'm reaching out to the community to get some feedback from investors investing in the Columbus Ohio market. I'm potentially looking to invest in several SF 3 bd 2 ba properties in this market. Class and location not determined yet. I'm working out the numbers, but one number seems inconsistent which is rent. I'm not quite sure what the average is in this market. My thought process is to reach out to local agents and potential management companies to get a gauge, but on top of that I thought getting a gauge on what investors are actually changing would give me a boots on the ground feedback which has some weight to it.

On that note, for any investors investing in the Columbus Ohio market who are willing to be open, would you mind sharing with me on what you are charging for rent, property class, maybe the length of your lease and area? I would greatly appreciate it any details provided.

Also, for anyone thinking of providing advice which one can get via Google, please, it's not necessary. This is not a inquiry for how or where to invest, but simply me gauging the rent market.

I am looking forward to your responses, and thanks in advance!!!

[Simon Ashbaugh]

You'd have to narrow it down. I could tell you median rent comps are at $3200 for A class but thats in german village and wouldnt accurately reflect other A class areas. My best advise is to go Here https://www.rentometer.com/ and plug in addresses where youre interested.

[Corby Goade]

Start calling local property managers who are NARPM affiliates. They do quarterly market surveys and the info in those reports are pure gold. You'll find one who will be happy to email you the latest report. Real time, hyper local data. 

[Nathan Gesner]

Quote from @Hassan DeWitt:

It's not that easy. The price for a 3bed/2bath in one neighborhood may be half what it is in another. Prices fluctuate based on location, size, quality, layout, amenities, the quality of the neighbor's lawn, access to parking, noise levels, and 172 other factors.

Narrow in on specific communities, then study the market by looking at other rentals advertised online or using computer algorithms like Zillow estimates or rentometer.

[Account Closed]

It'll vary from neighborhood to neighborhood. Overall data will paint a broad picture, but you'd have to crunch these numbers by neighborhood to avoid inaccurate numbers. Once you get more specific in terms of strategy and neighborhood class, it'll be easier to get more accurate numbers for rent comps.

[Jimmy Lieu]

Quote from @Hassan DeWitt:

Hello people of BiggerPockets,

I'm reaching out to the community to get some feedback from investors investing in the Columbus Ohio market. I'm potentially looking to invest in several SF 3 bd 2 ba properties in this market. Class and location not determined yet. I'm working out the numbers, but one number seems inconsistent which is rent. I'm not quite sure what the average is in this market. My thought process is to reach out to local agents and potential management companies to get a gauge, but on top of that I thought getting a gauge on what investors are actually changing would give me a boots on the ground feedback which has some weight to it.

On that note, for any investors investing in the Columbus Ohio market who are willing to be open, would you mind sharing with me on what you are charging for rent, property class, maybe the length of your lease and area? I would greatly appreciate it any details provided.

Also, for anyone thinking of providing advice which one can get via Google, please, it's not necessary. This is not a inquiry for how or where to invest, but simply me gauging the rent market.

I am looking forward to your responses, and thanks in advance!!!

Hey Hassan, so this is definitely a loaded question and rents vary drastically from area to area. With that being said, I would strongly recommend working with an investor agent who specializes in real estate investing and knows the rental market extremely well or asking a property manager for more information. With that being said I have done many BRRRRs, flips, and own my successful rental portfolio and with many clients, I always make sure to provide ARV comps, rent reports, investor thoughts, and many more resources! As a local investor and agent here, let me know if you have any questions or want to connect

[Hassan DeWitt]

Thanks y'all!

I figured reaching out to local management companies and agents was the best approach. Thanks for the feedback and advice!

[Natalia Sturza]

Quote from @Hassan DeWitt:

Thanks y'all!

I figured reaching out to local management companies and agents was the best approach. Thanks for the feedback and advice!

 Smart move 👌

[Alfath Ahmed]

I would recommend the following: 

1.rentometer.com 

2. rencast.io 

3. Speak to your PM

4. Ask your realtor on his/her perspective

[Scott Allen]

@Hassan DeWitt

You'll need a neighborhood map to differentiate neighborhood grades what average rents are nearby based on room count. 

Some people pay $2,500 a month for a 1-2bd luxury apartment while some people pay $2,500 a month for a 3bd/2ba house in the suburbs. 

I can share a neighborhood map with you. 

I also like to use rentometer to get a good idea of what rents are nearby. Past and active rentals on Zillow are a great way to analyze what you can get your rents to as well.