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The rent is too damn high!

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In late September the U.S. Census Bureau released the latest population estimates for Franklin County for 2016. Poverty rates, both among the population as a whole and among children, appear to have decreased slightly. However, the most recent numbers also show a continued increase in median rent that may explain a perceived lack of affordable housing in the Columbus area.

The graph below shows the median rent in Franklin County between 2010 and 2016. The median rent has been steadily climbing over the last several years. Even when accounting for the margin of error, which provides a potential ceiling and floor for the median rent, trends have been consistently upward since 2010.

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Source: ACS 1-year estimates, Franklin County, 2010-2016

With Columbus being hailed a destination city for young graduates it will be interesting to see if this upward trend continues. At least we still have a ways to go before we’re on par with New York ($1,586) and San Francisco ($1,731).

Becky ZwicklHousing, Economy