Central Ohio's economy is thriving. What follows is a look at the city's affluence—who's at the top and who's at the bottom when it comes to income.
Real estate prices and apartment rents are soaring, concrete indicators of a booming economy. Cranes continue to swing in the cold winter winds high above Downtown, with more apartment buildings going up at one time than the city has possibly ever seen in its history. In the heart of Columbus, condo prices can easily top more than $1 million and rents are reaching to over $3,000 a month in some of the newest complexes convenient to Downtown office buildings.
Meanwhile, Central Ohio continues to expand to accommodate the residents who are moving here. More mansions are being built in New Albany, while more mini-estates and exclusive neighborhoods are being carved into the rolling land of southern Delaware County. There's strong competition for the small, starter or empty-nester homes in the innermost suburbs—Bexley, Upper Arlington and Grandview—causing competitive price tags of up to $500,000, or more.
Millennials and Gen Z appear to be hanging around more often after college graduation, seemingingly less inclined to venture off to pricier big cities that are a jet ride away. They're choosing a Midwestern lifestyle, in favor of jumping on a Bird and traveling the river between Downtown and the Short North for partying in their 20s and then, later, maybe moving back to the suburbs to buy houses and bring up babies in dual-income families that are required to support the expenses involved.
Tech is booming, even in Central Ohio, which has become the home of multiple startups. Recruitment of top retail leaders, medical professionals and more is in high gear. In medicine, specifically, salaries have been boosted to get the best leaders available. In sports, the same can be said for the elite players.
By all appearances Columbus seems to be doing well. With that thought in mind, we decided to take a closer look—who's at the top of the income brackets in Central Ohio and who's at the bottom? Which jobs in the region are multiplying and which are being cut? It's a new era in the history of Columbus; thus, the following pages explore how the region is evolving in terms of those who have the greatest affluence and those who do not.Read more stories from our “Money” package: Central Ohio’s Big Earners Columbus Metropolitan-Area Jobs that Will Grow and Shrink The Happiness of Millionaires Taking the Buyout Musician Chris Shaw on Playing in the Gig Economy Lawrence Funderburke Examines How Social Class Informs Financial Decisions Physicians’ Salaries Soar in Central Ohio Living on $600,000 a Year Living on $80,000 a Year Living on $17,000 a Year ***
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