Boom or Burden? How National Landlords Are Shaping Columbus Housing in 2025
Columbus, Ohio – The Columbus housing landscape is rapidly evolving as national real estate investment firms continue acquiring thousands of homes across Central Ohio. A recent analysis of Franklin County property records reveals that six major out-of-state landlords each own more than 400 properties, with over 6,000 homes collectively under their control.
Leading the pack are American Homes 4 Rent and Vinebrook Homes, each with more than 1,600 properties in the area. These institutional investors have been active in Columbus since the early 2010s but saw a surge in activity following the COVID-19 pandemic. Other companies like Progress Residential, FirstKey Homes, Starwood, and Amherst have entered the market more recently, targeting newer suburban homes in neighborhoods such as Grove City, Canal Winchester, Blacklick, and Reynoldsburg.
Who’s Affected?
Critics, including housing advocates, argue these firms inflate home prices and reduce availability for first-time buyers by purchasing in bulk and often with cash. Carlie Boos, director of the Affordable Housing Alliance of Central Ohio, warns this practice is pushing the market out of reach for many locals.
“They are raising prices across the board,” Boos stated. “It is harder than ever for average buyers to compete.”
Studies suggest corporate landlords may contribute to rising rents but also offer access to nicer homes in desirable school districts — a niche that traditionally lacked rental options.
Changing the Rental Market
Unlike older investor models, which focused on distressed inner-city properties, many new landlords are now buying high-value homes in growing suburbs. While offering modern amenities, some properties — especially those under Vinebrook — have drawn criticism for poor maintenance and code violations.
Despite these concerns, David Howard of the National Rental Home Council argues these companies fill a valuable gap in the housing market by offering well-managed rentals to families who aren’t ready or able to buy.
“Single-family rentals provide flexibility, quality, and location for families priced out of homeownership,” he said.
Trends
Investor activity peaked between 2019 and 2022, with firms purchasing roughly 6,000 Columbus homes per year during that time. However, acquisitions dropped by nearly half in 2023, and some firms — including Vinebrook — have begun selling off properties.
In response to market shifts and higher mortgage rates, many companies are pivoting to build-to-rent developments. Central Ohio now ranks 6th in the U.S. for new rental home construction, with over 1,000 units built in 2024 alone.
New developments like Eastwood in Reynoldsburg by American Homes 4 Rent mark a significant move toward purpose-built rental communities, indicating a new chapter in Columbus’s rental market.
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