Last updated on June 21st, 2023
best places to Airbnb in Ohio
Key Takeaways
- The reasonable cost of living, healthy real estate market, and economic growth of Columbus allowed many hosts to earn a good passive income by owning Airbnb listings.
- Learn the advantages that investors can enjoy when investing in short-term rentals in Columbus and nearby cities.
- We’ll feature the top 10 neighborhoods and nearby cities in Columbus, OH, along with their recommended property types, median housing values, and respective Airbnb data.
Introduction
Columbus is located in Franklin County, Ohio, and is the most populous city in the state. Visitors truly love the city’s friendly environment, vibrant nightlife and cultural attractions.
Also known as “The Biggest Small Town in America”, Columbus may be a little city if we compare it to major cities like New York, but still, the city makes visitors and locals feel as if they were in a big metropolis.
Columbus offers a great quality of life & an affordable cost of living, and a healthy economy. This has drawn many investors’ attention over the past few years. But you may wonder, “which are the most profitable areas for Airbnb in Columbus?” – we got you!
In this article, we’ll feature the best places to Airbnb in Columbus, Ohio & nearby cities and some of the expectations for Airbnb investment properties in this city. Continue reading to learn more.
Why should you consider investing in Columbus Real Estate?
Starting an Airbnb business is indeed a good way of earning a passive income since this city offers attractive investment opportunities to investors. But what are the main advantages that this location offers to property investors? Check out some of the major reasons why investing in rental property in Columbus, Ohio is a great idea:
Affordable cost of living
Ohio is a landlord-friendly city with a real estate market that, to date, offers a variety of options with prices that remains relatively low. The average property price is $249K with a 1-year value change of 10.7% as confirmed by Realtor.
In addition to this, the cost of living is also something that investors should consider when choosing the perfect location to set up their Airbnb listing. So if you’re interested in Columbus’ market, you will like to know that the median living wage in Columbus is 12% cheaper than the national average.
Healthy economy
One of the most positive aspects of Columbus is its profitable and healthy economy that is supported by a variety of industries like logistics, education, health care, hospitality, and technology.
The city owns a robust economy that offers many job opportunities as well. Thus, young professionals are bound to find a good employment offer in Columbus.
Tourist and student markets
Did you know that over 42.7M people visit Greater Columbus every year? According to Experience Columbus portal, visitors arrive constantly in the city to go to conventions, trade shows & sporting events and also to enjoy the great leisure options available.
On the other side, we should also emphasize the student market of Columbus. As the capital of Ohio state, there are many higher education institutions located inside the city and in its surroundings that host a great number of students. Hence, if you’re looking to cater to students’ accommodations, Columbus is a great choice for you.
Is Airbnb Profitable in Columbus, OH?
Don’t worry! Airbtics confirms that investing in short-term rentals in Columbus, Ohio, is certainly profitable for real estate investors. In fact, it’s one of the best cities to start an Airbnb business in the US. Still, it must be considered that the level of profitability depends on the property type and location.
According to Airbtics’ data, an Airbnb host can expect an average annual revenue of $32,166 and a median occupancy rate of 58% for operating a 3-bedroom property in Columbus.
10 Most Profitable Areas near Columbus for Airbnb
Columbus is the largest city in the state of Ohio and has several neighborhoods distributed around the city limits. Hence, we understand if you’re struggling to choose the best location to set up your Airbnb listing in Columbus.
Check out the best neighborhoods and nearby cities in Columbus that are highly recommended for starting an Airbnb business:
1. Franklinton, Columbus
- Total Number of Airbnb Listings: 32
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $179,900
- Airbnb Annual revenue: $48,146
- Gross rental yield: 26.76%
2. German Village, Columbus
- Total Number of Airbnb Listings: 55
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $549,900
- Airbnb Annual revenue: $126,995
- Gross rental yield: 23.09%
3. Fifth by Northwest, Columbus
- Total Number of Airbnb Listings: 19
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $358,000
- Airbnb Annual revenue: $64,852
- Gross rental yield: 18.12%
4. Harrison West, Columbus
- Total Number of Airbnb Listings: 38
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $424,000
- Airbnb Annual revenue: $73,791
- Gross rental yield: 17.40%
5. Downtown Columbus, Columbus
- Total Number of Airbnb Listings: 78
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $250,000
- Airbnb Annual revenue: $42,101
- Gross rental yield: 16.84%
6. Dayton, OH
- Distance from Columbus: 72 miles
- Total Number of Airbnb Listings: 187
- Best bedroom size: 3 bedroom
- Median property price (3 bedroom): $140,000
- Airbnb Annual revenue: $31,034
- Gross rental yield: 22.17%
7. Cincinnati, OH
- Distance from Columbus: 98 miles
- Total Number of Airbnb Listings: 930
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $220,000
- Airbnb Annual revenue: $53,521
- Gross rental yield: 24.33%
8. Cleveland, OH
- Distance from Columbus: 126 miles
- Total Number of Airbnb Listings: 851
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $120,000
- Airbnb Annual revenue: $52,082
- Gross rental yield: 43.40%
9. Akron, OH
- Distance from Columbus: 126 miles
- Total Number of Airbnb Listings: 138
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $240,000
- Airbnb Annual revenue: $68,568
- Gross rental yield: 28.57%
10. Pittsburgh, PA
- Distance from Columbus: 162 miles
- Total Number of Airbnb Listings: 1,163
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $219,900
- Airbnb Annual revenue: $49,250
- Gross rental yield: 22.40%
Takeaway
In summary, the neighborhoods and nearby cities in Columbus are some of the best places to invest in Ohio state because they offer great investment opportunities to real estate investors.
Are you wondering how much can you earn through Airbnb? We advise you to check out Airbtics’ short-term rental estimator. Choose to stand out among your competitors and maximize your profitability now!
Explore The Most Profitable Airbnb Locations Near Columbus
