By now, we’ve all heard about Intel and the Google, Microsoft, and Amazon data centers coming to Licking County and Franklin County, Columbus, Ohio. We’ve known for years that the Columbus, Ohio area is a special place to live. Friendly neighborhoods, good schools, affordable living, and good old Midwestern values. And now with Intel and the various datacenters arriving, housing is at a premium.
Intel is a well-known American multi-national corporation that primarily develops and manufactures computer processors and other related technologies. Their presence in the Columbus, OH area is already changing the landscape and the housing market in the area and will continue to create waves in all surrounding communities.
As builders, designers, and remodelers, what should we be aware of and planning for over the next few years?
Regional Growth:
The Mid-Ohio Regional Planning Commission (MORPC) is projecting the 15-county Central Ohio region is on track to reach upwards of 3.15 million residents by 2050, a growth of nearly 30% from 2020. Companies coming to the area are a part of this projected growth.
Housing Permitting:
A recent report by the BIA of Central Ohio is forecasting that housing permitting needs to increase twice as much from recent trends to meet the projected housing demand of over 100,000 new housing units in the next 10 years. This includes a variety of attainable (see more here about the meaning of attainable (compared to affordable) housing) and affordable housing options and walkable neighborhoods.
Franklin, Licking, Madison, and Delaware counties will see the most growth. Columbus is one of the fastest growing metro areas in the country and more than any other region in the state.
Housing Desires:
Most people want a manageable commute time to get to work—no more than 35 minutes.
Develop a variety of housing options near jobs and companies.
Create new developments near roads, highways, and bus lines.
The pressure is on to keep up with the demand for housing, especially affordable and attainable housing. So far, supply has not kept up with demand.
While many of the jobs will be filled by those living in the area, others will be moving into the area from other parts of the state and country, which could strain the available market.
Housing developments aren’t popping up yet, as we are waiting to see what the demand will be, but in order to create them near the centers, the infrastructure—sewer and water lines, as well as electricity and telecom services, will need to be added in some Licking County areas.
As industry professionals, we need to watch and see what will happen. Is it time to buy land to create communities with different housing options (prices are already on the rise)? Some of that is going on now, and land is for sale. But making sure it is buildable is an important factor to consider. What infrastructure will have to happen?
Intel and the data centers are here and the demand is going to drive the housing market, not only for those here during the construction period, but then also for those working in these companies. It is imperative that we keep an eye on the progress and not be late to the game!
As a premier home designer, our company is ready to work with you, the builders, to create house plans for you and your clients. Schedule a time to talk today; call 614.430.0027.
Some information for this article was drawn from MORPC’s 2024-2050 County Population Forecasts spreadsheet.