Columbus – The Next Hot Spot For Millennials?

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I missed this when the article was published a couple of months ago, although I’ll admit that I don’t read Mother Jones all that much.

Columbus: Where the cost of living is more living than cost, reads one ad.  Given where our rents have gone over the last few years, that’s not nearly as true as it once was.   If one wants to live in one of the hot spots in Columbus such as the Short North, our class A rentals are getting close to $2.00 per foot and West LA for example is around $2.80 – $3.00 per foot.   I’ll get into more detail regarding Columbus rents in an upcoming post.

Given the 110,000 college students, state capital, first in the country in wage growth, unemployment rate south of 4%, a very compelling case can be made for Columbus, and many are making it.

Columbus has also become a foodie city with huge growth in niche restaurant players and very tight retail / restaurant rental market with which to lease to them.

Huge growth is predicted as Columbus adds 500,000 to the 820,000 by 2050.  That means dense infill and big net leased retail, multiunit residential and office growth for investors.   The national economy will rise and fall at about 12-14 years peak to peak and trough to trough, but Columbus and Central Ohio remain pretty stable through it all.  Sounds like a great place to park your investment dollars

http://www.motherjones.com/media/2015/05/columbus-ohio-millennials-brooklyn