A report released by Measurement Resources, a Powell-based research company, predicts central Ohio will be home to 1 million more people by 2050. The research shines a light on the need for more affordable housing.
The report titled “Equitable Housing in Central Ohio: Redefining Affordability for All” evaluated growth trends and the average spending for rent and mortgages by county and zip code.
According to the data, central Ohio will need 14,000 new housing units a year in order to keep up with the demand.
Average rent across central Ohio runs between $800 and $1,100. A mortgage in town will cost another $400, on average.
Delaware County came in as the most expensive county to live in when it comes to rent and mortgages. Franklin County sat at number three, just behind Union County.
Zipcodes closest to downtown Columbus have percentages as high as 69% when it comes to households that are cost-burdened.
When it comes to demographics, women and children are more likely to be impacted by the lack of access to affordable housing, especially single mothers living in predominately African American neighborhoods.
Wednesday, Columbus mayor Andrew Ginther announced a new initiative to dedicate almost $2 million dollars of his proposed budget for 2020 to the Affordable Housing Trust.
That proposed budget is set to go before Columbus City Council, for approval.